No you can use it straight out of the box if you want. I just downloaded the same x64 dist you did from mamedev.org and extracted the package into a folder on my desktop.
Then I just moved the IVPlay.exe into that directory and double clicked it. IV/Play found the mame.exe and built its dat file and should then leave you at the IV/Play game list. You can then put icons and snaps and bkgrounds etc. in their respective directories to gussy up the interface. And of course you need your ROMs in the roms folder to run.
The distribution package of baseline Mame doesn't come with a mame.ini so if you want to alter any of mame's settings you need to create the mame.ini by using the commandline 'mame64.exe -cc' and then edit mame.ini as you see fit.