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According to page 2-14 of the Getting Started Guide for the Transcevier SI Development Kit it is:
http://www.altera.com/literature/ug/ug_si_2sgx90.pdf?gsa_pos=2&wt.oss_r=1&wt.oss=transceiver%20signal%20integrity%20user%20guide I'm actually only trying to use the Tx SI Board Control Panel so I've never tried to use the Quartus s/w.
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I am not familiar with that kit, but looking at the documentation quickly, it seems to me that the virtual COM port they are referring to in the documentation is for the dev kit itself, not the USB Blaster. When the USB port of the kit is connected to a PC, it shows up as a virtual COM port once you have the correct FTDI drivers installed.
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