From their description the answer to your question is NO. You do not need a PC to be running as the camera has it's own IP address. However I am finding that the camera is flakey and loses it's address and fails to reconnect automatically.
By MissP on February 14, 2013
With the software you receive with the camera, you can only program 4 cameras. I would suggest contacting Lorex to see if there is software to handle more than 4 cameras.
By Gary Kelso on April 17, 2014