Yep, you can record both the channel you are watching and another channel. And watch a play back of a previously recorded program (I think)
It does in fact record the program you are presently watching without you specifically asking it to. So if you have been watching a program from the start and wish that you had been recording it, you press record and it will have saved the program from the point where you started watching it, not from the point you pressed record.
The marketing says that you can pause live TV which is true, but you can in fact rewind live TV provided that you have either been recording it or watching it.
Its the greatest thing since the last greatest thing!!!
Tim