record a multiple bit rates

I would really like to see a feature that would allow a program to be stored a multiple bit rates. So my favorite program would be available at hiQ on the lan and could be streamed at low bit rate over a Cable connection for when I am not at home. I know it would be difficult to record both bit rates in real time, but whne my computer is idel it would be great to have it copy form the high bit rate to a low bit rate format.

[Tron]

I think you're best bet is a custom transcoder (if one of the presets are the quality you're looking for).