iTheater: Free Media Center Application for OS X

A lot of people are thinking of using Apple's new Mac mini as a media center, right? So the people over at DigitalDuckTape.net are working on what appears to be a free program that works with Mac OS X (very little info given on website) that will make your computer work like a TIVO. I am not sure if it will be able to record live TV, though. Also, it will be compatible with all Macs.