Yes.
Thanks @pabloescaban. I just dug out my H5.2S from all those years ago, and loaded up OpenAtv, couldn't believe I remembered the flash and setup process or that Kiddacs Jedi maker is still available. It's fine playing IPTV and sat but for some reason when trying to record an IPTV stream ends with a circle of doom...do you get the same on a more powerful box?
It helps if you have a multi line, IE, 2 connections rather than 1 but even then it's still a gamble as to whether the recording will succeed