I know about the local stations in HD, I know that I can build a PC to do the same thing (although this is pretty spendy actually). I like the Dual tuners, this is important to my wife and I because we often want to record shows that come on at the same time on different channels. I actually think I would prefer dual tuners to having HD capabilities itself. But the all in one is great.
I do like not having to boot up to watch TV though, and this is the major drag of HTPCs. I also don't like leaving everything on all the time as this sucks electricity and I have become cheap in my old age.
PVR is the greatest invention since sliced bread IMO. My wife and I now watch TV only from pre-recorded shows, at our own schedule and skip the commercials. God bless PVRs! I find that I watch TV a lot less because of this. Maybe an hour&half a few times a week and the rest of the time I am productive or at least sorta productive.