This is a very popular feature in the Sky+ & SkyHD PVR's from Sky here in the UK as it enables them to offer the ability to rewind 'Live TV' in an ad-hoc way (at least to the point where you switched over to the currently viewed channel)
I really hope Klaus never intends to implement something like the live
tv buffer that myth has. The idea of one of my harddrives saving
nonstop 24/7 is really really lame. Huge waste of power, constant
heat, and unnecessary wear on the harddrive for something that
probably doesn't even get used that much in the first place.