Given that the objective of HDCP is to avoid high definition copies, it's unlikely that HDCP decoding by an external tuner (which conceivably could have their high-definition outputs routed anywhere) would be "legal".
It would actually be illegal to make such a box if it took in DVI/HDCP signals from the sky and output them digitally in a non-protected manner. And with pending legislation, it might also have to do whatever Hollywood wants to the analog output.
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