You could put that free USB port of yours to use and add an
elgato turbo.264 HD hardware accelerator dongle, to speed up the conversion process to iTunes. Works seamlessly with EyeTV.
I've considered it, but the latest news I've heard is that a new HDHR product coming out this summer is going to have built-in on-the-fly transcoding so that it outputs the program stream in H.264. Meaning there will no longer be a need to transcode from EyeTV to iTunes. The recorded program will show up as an iTunes-compatible file in the first place.
http://www.engadget.com/2013/01/08/silicondust-announces-two-new-hdhomerun-network-tuners-with-tr/
So I figure my money will be better spent on one of those new HDHR's than on the elgato turbo device. The elgato device will probably take an hour show and convert it for itunes in 20 minutes instead of 90 minutes (after the program finishes recording). But either way, we'd need to wait. And our current practice of just waiting until the next day to watch the program works fine for us. But if the program came in as h.264, we could potentially watch it immediately on Apple TV upon the start of recording. . . or at least immediately after it finished recording.
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You might have to translate the link on the new HDHomerun for me. If I buy the Dual model now, will it be upgradable to this new firmware that keep me from needing to encode? If not but there is a model coming that should be less than $100, I think I'll just wait on that.
If you are really interested in the new HDHR, I'd advise waiting to purchase an HDHR model until late summer when hopefully the new one will have come out.
It's supposed to come out some time "mid-summer". But anything I say at this point about release date and price is speculation.
That said, when I got my HDHR3 over a year ago it was ~$125 on its own (without the EyeTV software). So I'd expect the new version might cost more than $100 when it first comes out.
Another note: Elgato used to sell the HDHR3 (the one I have) in combo with EyeTV software for like $180 or something like that. But if you go to Elgato's website now, they no longer retail the HDHR3. Not sure why they ended that relationship with Silicon Dust (the company that makes the HDHR). But my point is we also can't assume the new HDHR will work with EyeTV, although I would expect it to.