As an owner of both, I felt I needed to express my opinions:

The best comment I have heard recently is this:

"The Tivo is the Mac of the PVR world, and the Replay is the PC equivalent."

I think it's pretty accurate, really. I think the user interface of the Tivo is far better, the conflict resolution is VASTLY superior, and the Tivo remote is light years ahead of the Replay unit (although I hear the new 5xxx remote is good).

But, with all that said, I still prefer the Replay, and here's why:

1. Local/Global streaming of content. This is brilliant. Now that I have two Replay units in opposite ends of my home, I can watch content recorded on one from the other, and vice-versa. Not to mention the ability to send/receive content from other ReplayTV owners.

2. Commercial Skip: It isn't perfect, but it works for me. It's all about time management. I am in and out of an hour show in less than 45 minutes. Feels good to get that time back.

3. Extraction: The Replay architecture is FAR easier to work with in extracting content for later archival.

I had Tivo first, mostly due to mind share, but it's Replay from here on out for me. I suspect anyone interested in a PVR who also owns an Empeg that they have also hacked will agree. The Replay is far easier to "enhance".

Anyone want to buy a Tivo with 110 hours recording capability, a lifetime sub, and ethernet installed?

Hope this helps!

Rob