With just a few hundred dollars worth of equipment, you can easily set up a TiVO-style system that records your favourite TV shows (either analogue, broadcast, digital cable, or satellite) onto a hard drive. You need to upgrade to an 802.11g wireless network (802.11b slow for full-spectrum video) and plenty of storage space (30 minutes of video is about 150 MB).
After you have the captured video, you can share it, edit it, delete it, view it, and more. You can even view TV signals on a laptop equipped with a TV tuner card. With the right equipment, you can also control your TV from a wireless laptop.