It's way too cutesy for me. I'd much rather have a replayTV or a Sony DVR. Not to spread stereotypes, but this is something that has great potential in Japan where cutesy stuff is all the rage.
It'll really turn off people who are into an industrial look, though.
I'm a PC guy, so I don't know much about what's available for Macs, but I'd spring for a TV-tuner-capable graphics card. (a la Radeon All-In-Wonder)
esp. since DirecTiVo and one other company (I think replayTV) are developing HD PVR's with 250+ GB of storage. I'll be waiting for one of those.
I think Gelfin is right. DV is EXTREMELY taxing on your storage capability. I don't think this'll get off the ground unless it can store video in smaller format.