The Hybrid can tune SD, but the only way it can stream (either with this hack or via CyTV) is if you start a recording and then go through the steps described here every time. For HD, you can create an alias to the live buffer, but the only HD the Hybrid will receive is via ATSC, and then only if you buy an antenna and connect it to the cable input (disabling your coax connection) and switch the box into digital mode (which disables any other input mode).
So overall, the Hybrid isn't really a viable solution for this except in very limited circumstances and for very limited needs/wants. I suppose it's cool accomplishment, but it's definitely not "living-room production-ready". I can't imagine having to go through all these steps to, say, record "Lost" or expect my wife to be able to record the Oscars this way.
I'm kinda bummed about that. There doesn't seem to be a viable solution for this on the Mac side, although there seem to be individual products that can accomplish pieces.