I recently purchased a Hauppauge HD PVR 1212 to use as an av capture box, primarily between the TiVo and my iMac. I installed Bootcamp/WXP (unfortunately) to use the Arcsoft TME s/w that came with the HD PVR. I updated the Hauppauge driver to capture 5.1 audio. But unfortunately the Arcsoft file convert etc. s/w doesn't yet support 5.1 audio. I purchased ImTOO HD Video Converter as an alternative, but there are currently bad a-v sync issues when converting from the Hauppauge/Arcsoft .TS format. The ImTOO support guys are being really helpful and have taken files from me to troubleshoot the issue.
In the meantime, as luck would have it, Roxio have at last updated Toast to version 9.0.4 and it seems to have fixed the TiVo file edit issues. But as a bonus I am able to use Toast to convert the TS files to m2ts (1920x1080) with 5.1 audio and they play fine on both my iMac and PS3 in glorious hi res with 5.1 sound! (I use a Yamaha RX-V861 receiver). I can provide more details if anyone is interested.