Hauppage do much the same thing for more or less the same price. The advertising blurb is a little over the top. Video Entertainment System? It's just TV on your PC. A 181 Channel ready Tuner is great if you've actually got 181 channels available. As this device will only pick up analogue signals you'll get the 5 terrestrial channels that we all get (BBC1, 2, ITV, Channel 4 and Five). The future of TV? TV cards have been available for over 5 years so it's hardly the future. You will of course also need a TV aerial. Recording live TV will also eat up acres of your Hard Disc.
If you really want to watch TV on your PC I would probably get one of the new generation of cards that can pick up the free-to-air digital TV and radio channels. I think some are available right now and I saw an article about one that's due out soon for about £90.