I've used Defender on Vista Home Basic, Vista Ultimate 32 bit and Win 7 64 bit since 2007. Other than getting definition updates through WU, I would never know it was there and running. It has NEVER, EVER alerted me to any threats, let alone stop any of them.
At the same time, several 3rd party programs did detect and block and/or allow me to remove various types of malware that made it onto my rigs.
Defender is like a condom with a hole it it. It gives you a (false) sense of security, but if you depend on it alone, you are going to get screwed and in a very bad way.
I can't explain why I haven't just shut it down other than someday, just maybe, it will do its job.
MSE is free because that is all it is worth.