Pros:
-Excellent picture and sound quality, noticeably better than the standard HD box
-Records two channels at once (you can only watch one of those two channels when both are being recorded)
-Records during standby mode
-Allows series recording for shows you watch regularly
-Fast forward and rewind upto 32x
-Rest of the interface is identical to the HD box
-Playback is experience is good. Much better than the comcast dvr I've used in the past, which would stop at the wrong moment 9/10 times while forwarding. In the end, we gave up and got a Tivo dvr. Videocon's playback is almost at par with Tivo.
Cons:
-Mind numbingly unintuitive buttons layout remote layout
-DVR heats up pretty fast, although the first few days were the worst, it is hot now, but not as hot as earlier.
-Lots of features, impossible to figure out without manual. Eg. Series recording, editing favorites list.
-Channels keep changing while scrolling through the program guide, instead of waiting for you to select a channel.
-Hidden retail costs. DVR's price is Rs.6490, but retails for Rs.3990. DVR is dysfunctional until you recharge Rs.2500 for "activation". Once activated, you have to wait for 24 hours for recording privileges to be authorized.
I don't know what Videocon is cooking up for it's new dvr box, except that it will support USB recording. But, I think this dvr is worth your money. If you have the patience, and don't need it immediately, you could try waiting for the new DVR that videocon plans to announce soon.