You only have one tuner so you can only watch or record one single satellite channel at a time. However, if you also connect your over the air antenna (Batwing or similar) you can watch and record one OTA channel and one satellite channel at the same time.
Since you only have one satellite tuner you don't have to worry about pointing to the correct satellite as the antenna will be pointing at the satellite from which the channel is being broadcast.
You can setup the DVR timer to record upcoming programs and the antenna will move to a different satellite should that be necessary. As you noted, you just can't have any over lapping satellite programs scheduled.
