using PS3 to view recordings/live tv

[sjbjava]

I am considering purchasing the bundle with the Hauppauge 500MCE and I am new to the idea of using my PC as a media device and hope some one can help me figure out how it all goes together. I have recently discovered how nice it is to watch stuff from my PC on my regular TV through my PS3. My set up is that I have a PS 3 with wired ethernet on a home network and I am running TVersity on my PC as a media server/streamer to the PS 3. I'd like to record/watch live TV as well through my PC. It sort of sounds like that is what TV Link does but I don't see how that would work for me. I have also heard of Orb but don't know much about it or how that would work either. Any help in what I need to make this all work would be terrific.