I have IPTV. It has the standard Chinese live channels, shows from the last few days, and a list of movies and sports content on demand. It doesn’t have any storage to record to, but I think I saw a USB port on the back so maybe it’s an option.
If you have ADSL then it has a dedicated 4MB/s link and is “SD”. If you have fiber then it has a dedicated 8MB/s link and is “HD”.