You start by downloading the desktop software (compatible with Windows XP, Vista and 7 systems). It gives you a selection of 30 different sources of both video and audio, including Hulu, Netflix, CBS, Syfy, ESPN, PBS, Pandora and YouTube. If you dig into each of the services, you'll see something like the channel guide on your DVR. The guide for Spike, for instance, shows that network's programming crown jewels, like Half Pint Brawlers and MANswers.

You choose the episode of MANswers on bullet-stopping breast implants (of course!), and PlayLater will start pulling the file off the web and storing it on your hard drive. You can play the file later in Windows Media Player. (The files were in a proprietary format and I wasn't able to move the file to another system and play it, presumably a way to discourage copyright infringement).

In my testing, the quality of PlayLater videos was equivalent to simply streaming the videos live. Recording episodes sometimes took longer than I expected. For instance, an 80-second news report took 10 minutes to record. But when I played the video, I realized that PlayLater suffered from mission creep: it had recorded not just that clip, but two or three other clips from the same network.

At other times, recording was about the same as real time. I was able to record a 20-minute show in about 22 minutes.

A subscription to PlayLater costs $5 per month or $50 for a year (though it's now available for a free 30-day trial). Is that a good deal? Let's look at the alternatives.