People have been trying to do it since Cable COmpany DVRs came out and I have not seen anyone have any success doing it. (I do think it is possible with a Tivo though)

The next best option is to create a Media Center PC like homey described.
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Reality check: according to the 2000 census, there were more than 31,000 black physicians and surgeons, 33,000 black lawyers. There are about 1,400 black athletes playing professional basketball, football and baseball combined.