I would recommend having two separate devices. No extenders do a great job with various file formats and high bit rate files. I have an Xbox 360 in each room for TV (and Netflix), and an HTPC running OpenELEC for my movies. You could substitute the HTPC for a content streamer like a WD TV Live or a Dune player.
I would love if one device did it all, but there are very few devices that can do live television and DVR.