Don't see why that should be an issue. Think of the TiVo as a VCR of sorts, so it will run in the chain, and does not *need* a secondary input on your TV to use (unless you want to watch one channel live while recording another live -- you can watch a recorded show while something else is recording). For the phone line, you'll just need a $2 phone jack splitter that plugs into your wall jack ... one line to the phone, one line to the TiVo. No ... again, in this instance, you need to think of TiVo more as a VCR than as a cable box or receiver. TiVo has *much* more functionality than your average VCR, so I apologize for having to make that analogy, but it's much more accurate in comparison to a cable box or receiver. Correct. You can watch a prerecorded show from your TiVo while your TiVo records something else live ... that's how most people would be doing it since that's pretty much the point. If you wanted to be able to watch one channel live while recording another channel live, then you would either have to have the second input on your TV ... OR ... get DirecTV satellite service with a DirecTiVo. I believe if you figure it out, lifetime membership works out to be paying 19 months on the monthly $12.95/month plan. TiVos probably average 3-5 year lifespan, though I don't have any hard numbers on that ... it can vary widely. I say get it, go with the monthly plan to start out for a couple months, and then make the decision from then, once it has truly become an integral part of your TV viewing. Many will obviously tell you that we'll all be pretty biased in asking this question ... do a search on the forum for ReplayTV (that's the other main competitor) and you should be land several threads posted earlier that cover these issues. My own opinion ... TiVo wins out for both ease of use and functionality (conflict handling, re-scheduling, etc.) I think you answered your own question. And I think your answer is absolutely correct. TiVo definitely sounds like it's for you. Don't forget that, to take advantage of the $50 mail-in rebate promotion on a TiVo purchase, you have to buy by December 31.