You need to install Impulse to download the game:
http://www.impulsedriven.com/
Once the game is installed, unlike Steam, you do not have to have Impulse running in order to play Demigod. You will need Impulse to install updates, however.
You download it again as many times as you want to as many PCs as you want.
You can archive the download and burn that to a DVD to be used for a reinstall. It is not an iso image; it uses their archive format.
Edit: Ooh, beaten to it; plus the Impulse Anywhere info!
-HM