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This means that even if you are trying to use the DVR functionality of the IPTV that you can't watch one show while you record another and that changing channels will not be as fast as you'd like.
IPTV channels also require fiber optic to the home to get the necessary bandwidth for the show. That service is not cheap and not available in a lot of areas.
Cable could offer the same number of HD channels as IPTV if they started broadcasting just a single channel at a time to their digital cable boxes and switching it the same way IPTV does. In fact, cable companies would like to do it this way but there are currently regulations (having to do with cable card I believe) that prevent them from doing this.
Either way, it has serious implications about how many sets you can have watching channels and multi-tuner devices and the bandwidth required.