We moved from ReplayTV to TiVo after Sonicblue bit the big one.
I personally don't use it; my dad is the fanatic, and he will rave about it as long as someone will listen.
The added bonuses you're missing are that you can pause "live" TV, so you can go take a dump or whatever, and that you can effectively skip commercials by watching recorded stuff a few minutes late (i.e., start watching the Simpsons at 7:10 but rewind the recorded TV to 7:00 - it keeps on recording, so each time a commercial break comes on, you just skip past it. By the end of the show, you're caught up to real time and you haven't watched annoying commercials). ReplayTV flaunted its commercial skip feature; TiVo's has to be unlocked, but basically, you hit a button and it skips 30 seconds ahead. Pretty snazzy overall.
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