In my experience the HD-PVR is EXCEPTIONALLY intolerant of any interruptions to the audio or video streams. For example when recording output from SKY you need to have the playback rolling before you start recording with the HD-PVR. If the video output goes to a static frame, like one of the SKY menus, the HD-PVR will lock-up.
I have found the M2TS format and CBR @ 12mbps seems to produce the most stable recording but I get lock-ups all the same. Killing the application through the Task Manager and then cycling the power on the HD-PVR usually, but not always, obviates a reboot.
I am using XP, SP3 and the Driver Version v126.96.36.199
I find the supplied software useless and use CyberLink PowerDirector 8 Ultra for all my editing and transcoding as I have found very few products that will transcode any of the file formats produced by the HD-PVR.