I love it!!
I have Eyetv and AppleTV and like everyone says it's awesome...2 comments though
1) you can buy the Elgato Turbo USB stick, and it will speed up the conversion time for movies and shows, it cuts the time in half
2) also you can set it up wifi, I love this feature!! I teach so I can't watch the news till I get home, so I have Eyetv record the cable news at 12am, then it converts the file to wifi, I have a port opened on my IMAC, when I'm waiting for the bus, I connect my Iphone to someones wifi and boom I get to see the midday news while I wait
Eyetv rocks!!😀
(update)
someone did mention the Elgato turbo, I just noticed