This is a product made by a Singaporean company called vidzmedia. They don't even have a webpage but apparently the Japanese like it so much the first 8000 were already snapped up. It seems that picture quality is very good but looking at the cpu requirements, it looks like software real-time encoding.

http://www.straitstimes.com.sg/story/0,1870,90136-1008194340,00.html?

They have a japanese website. I wonder if anyone has tried it out here yet?

http://www.sknet-web.co.jp/monstertv/