An $8 soldering iron and a $5 roll of solder from Radio Shack are all the tools required. While the Tivo motherboard is a multilayer board using surface mount components, the power supply is just a single layer board with axial lead components. Re-working an SMD multilayer board requires some skill and a steady hand. I don't recommend it for someone who is not already handy with a soldering iron. A low-frequency single layer board however, is much easier to wrangle. Just be sure to keep the tip of the iron clean, heat the joint, and add the solder to the joint, not the iron, and you should be fine. A bit of solderwick or a solder sucker can help with de-soldering, but honestly with large capacitors it's really not necessary.Well, after several years of having problems with my S3 it has finally died. Just this morning actually.
I opened up the case again and noticed that the large capacitor on the power board is rusting. Something is leaking out of that thing.
Unfortunately I do not have the skills or tools to replace just the capacitor so it looks like I'm stuck replacing the entire power board.
Of course, it's up to you, but frankly, I can't imagine shying away from a soldering job this simple. Honestly, this is nothing I would have hestitated to tackle when I was 12 years old.