I've never owned a Tivo, so I'm not that familiar with it's unique "value add" to the PVR.  But I have a hard time seeing how putting Tivo on a PC (Nero's LiquidTV) and charging $100 for the application ($200 if you don't BYOT) and $100 a year in service fees can be sucessful.  What's even more surprising is that anyone can state with any awareness "LiquidTV is a very affordable contender in the home theater space".  Is Tivo's brand of TV recording that much more special than Media Center (free*) or SageTV ($80), especially considering all the other things that they do like DVDs, music, pictures, and video OOTB?  Unless I'm missing something (am I?) natural selection will take care of this one.

* it's not really free, but since it's baked into the OS that you already paid for rational choice allows us to consider it as such