This paper describes the assessment of a free and open-source software tool for power system analysis and modeling, namely Power System Analysis Toolbox (PSAT). PSAT is currently used in several universities for undergraduate and graduate courses and research. Several applications of PSAT as an educational and research tool are discussed here. The paper also describes the PSAT Web forum, which provides support to students and researchers all around the world. Finally, the paper presents and discusses the results of a survey on PSAT filled out by the members of the PSAT forum and PSAT users.