Here are some sample screenshots from the company website:
I haven't used the service yet, but I'd imagine the benefits include portability (different devices, mobile access), convenience (playback options, no recording device needed, ease of use) and productivity (tv guide).
Some of the considerations include price ($8 per month for 12 hours of recording is not bad compared to Foxtel or buying a PVR), playback (not available on your TV at home), sharing options (there are none) and commercials (how easy is it to remove them). Some PVRs like Beyonwiz allow the export of TV shows for private archiving.
The big unknown is whether a company like Apple will turn iTunes and AppleTV into a subscription service and revolutionize the whole entertainment industry. The other question is what is the next step for Google's YouTube and how might they deliver content like this in the future. In the meantime, myTVR is an exciting Australian service I'll be testing soon on my iPhone.
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