This is an excellent product for having two accessed from multiple devices on your network at the same time.
In the box you receive.
- HDHomeRun device w/ power adapter.
- Coax cable
- Ethernet Cable
- Elgato eyeTv 3 CD-ROM
- License card (with 2 license keys)
- Quick Start Manual
Setup is very easy. You unpack the device, hook the power up, hook the source up (coax/antenna/etc), and hook it up to your network. Then install the software on your mac. eyeTv then guides you through locating your device, setting up the software, tuning the channels, etc.
The HDHomeRun on it's own is a great product, and can be bought for cheaper on it's own. However, you won't get the two copies of eyeTv that you need to use on a mac. If you have a Windows Media Center Edition (I think?), XBMC, or a few other pieces of software, you can use this without using eyeTv software, and you would then purchase the cheaper stand alone product.
However if you have a Mac, this package is the way to go. The eyeTv software is excellent. Allows easy recording, encoding (for playing on iPhone/iPad/Apple TV/etc), and works incredibly well. It's a stark contrast to most third party windows clients that don't seem well thought up, and a lot of times are just a pain to deal with.
You can also play live tv (requires Core 2 Duo mac, or the elgato Turbo .264 HD) on your iPad/iPhone, and recorded tv as well. The catch is that you have to have a computer with the eyeTv software running on it to do this. There is XBMC for iPad, which can connect directly to it, however since it is uncompressed, over wifi it means a lot of stuttering.
Using this on my ~2006 iMac worked very well, and worked even better on my wife's ~2010 MacBook Pro. It's nice to be able to open up and use it on either computer without having to move a hardware tv tuner. It's also especially nice on a laptop because you don't have a dongle and antenna hanging off the laptop.
I'd recommend this product over any of the other elgato tuners, unless you need a product that can take in video (composite, etc) which the HDHomeRun cannot do. It records/views super easy, and since there are two tuners you can record one and watch another.
Edit: I failed to mention that this little box has TWO tv tuners in it. On my iMac eyeTV will even record two shows at once. Don't have recording setup on the other computer, so not sure if it can do one in each place, but it should be able to. This is also the updated version of the HDHomeRun hardware, the only differences I could find online were that this box is smaller and better looking, and instead of two antenna/cable connectors, there is just one for both tuners.