DVR for Online Movies?

Yep, you read the headline right. By now most of us have dvr's(Digital Video Recorders) setup at home and many of us might go as far as saying that we probably couldn't live without one. In fact, I work with a guy who rents three of them a month and he figures that he watches an average of five hours a tv a day. That is crazy!
Anyways, a recent article on Yahoo News reviews a new service that will allow you to record a streamed movie off of many of the popular video sites. It will work with Netflix, YouTube, Hulu and it is called PlayLater.
For $5 a month or $50 a year you can record a streamed movie off of one of the aforementioned sites or other sites like ESPN, MTV or even CBS. According the the article the quality isn't as good as it would be if you were just going to watch the original stream. Movies on the internet are already compressed files and its being re-compressed by the recording so its losing quality.
The idea behind this is great. We all watch streamed movies and to be able to skip commercials or save it for when you don't have access to the internet makes this very intriguing. The example the article gives is being on a plane and not having anything to do, you could watch a recording of a streamed movie.
The article also talks about the legalities about PlayLater. Right now there is no way for these companies to block the recordings or take action against them. Digital Video Recorders are considered legal and therefore they probably won't be able to do much to stop these services.
Right now its only available on PC's and not Mac's, if it was I think I may look into it, I think it sounds like a good idea. What about you, would you give it a try? Did I mention you can try it for free for two weeks?