Bought this to pick up HD channels just in case I ever feel like watching network television post cancelling cable. Still kind of blown away I have a tv set top antenna in 2011. Anyhow. It comes with a small Antenna. I'm in Sunnyside, it seems to pick up CBC and CityTV great (which makes sense, I could probably drive a golf ball to their broadcast towers), CTV and Global are working okay (audio cuts here and there). Clear day. May have to get a larger/better antenna (or build one).
Weaknesses:
Didn't automatically install. However, I am using a decade old OS on my TV that I don't think I've updated...since not sure when. There have been a few comments about bad software for the Hauppage products, but skip the CD (It's 2011) go to the website, download the install package, watch TV.
I haven't tried the recording yet, I may, but more wanted it for live events, so can't comment on it. Haven't tried using it with VLC yet either but it sounds like its possible.
Summary:
See above. Internal cards might be better, but this is really simple...and if you don't have a PCI express card to spare, definitely does the trick. Quick and easy.