I'm pretty sure I have the model you are talking about. I got it last year before Xmas for $149 with lifetime activation.
I have it hooked up on my network. Transfering shows to your computer takes nearly as long as it does to watch the show in real time. Not really a big deal, just letting you know it's not quick. The format is some slightly funky mp2, I think. I can watch it fine through media players, but friends with units have had trouble. I guess it's just a codec issue. Converting and burning as a DVD isn't all that difficult after you figure it out the first time. I've never done it, but 2 of my friends have burned several DVDs from stuff they have on their Replay.
I don't have a series 2 TiVo (I have series 1 w/o subscription), but from what I've read it seems better subscription wise. I think their season pass is better than the Replay recording methods. Again, I don't have one, so I'm just guessing from what I've read. While the Replay can be set to record "Reno 911" at any time, or at a specific time (say each Wed at 10:00), I seem to end up with dupe episodes. I think TiVo has "record new Reno 911" and it will grab new episodes no matter when they are on.
Not sure what the Series 2 networking abilities are. I think they include a bit more of the networking features now in their regular subscription.
ALSO, the folks that own Replay TV are in no danger of shutting down. I assume they would support Replay for a number of years at least.