I honestly don't know how I watched TV before I got my TiVo. There's just so many great features, like you mentioned (automatic record, ability to pause live shows, fast-forward through commercials, etc) The only drawback is when the shows change their times slightly and the TiVo doesn't realize it because it didn't get an update in time, but I always pad the shows that are apt to do that (like SGA) or make sure to record both airings so I don't miss anything.
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