how to adjust time on windows media center TV guide

Wow, that's a weird one! I cannot think of anything WMC specific for that, the only thing that I can think of is the Time Zone setting on the PC itself...confirm you have it set to the proper time zone?

Cool about the time zone!
Ok, the second wire there is the blaster that emits an IR signal to control an external set top box. Basically, it changes the channel on your cable box if you're using one. I rely on 2 of those to control my 2 STB that feed my HD-PVRs for my media center setup.
I cannot speak for those products personally...on my main rig I'm using a Microsoft IR receiver with a Harmony remote, and my client PCs use a $20 Adysso (or something like that) remote, which works surprisingly well!

That's what it is there for. Not sure exactly how to make it work since I've never used it, but the HP MCE IR transceiver (transmitter and receiver) is supposed to be able to send the IR channel codes to the STB. Doing this will only allow for one "tuner" at a time and you'll have to figure out how to get the STB's a/v signal into your HTPC.

A tuner card is much easier and allows you to record/watch more than one channel at a time. Plus you don't have to deal with rigging up the IR transmitter.

If you are looking for more info on this I'd suggest not asking in a "how to adjust time" thread.

Yup! You can "train" it to control whatever. The Microsoft transceiver has 2 output emitters so it can control 2 STBs. I don't know if the HP has only one or 2, though.
It also needs to be pointed out that nearly all tuner cards only have composite or Svideo inputs, so if you are looking to receive and view HD content, you'll need one with HD component inputs, like the HD-PVR or Collossus (both from Hauppauge and both are excellent withing WMC.)