When I bought my Tivo, I decided on a Cachecard instead of the Turbonet card as it would significantly improve the speed of the guide data.
And all is good.
Then a friend of mine got a Tivo, cachecard and ram - and his machine started crashing so he removed the ram....
And the guide ran just as well as ever before.
So I tried it - and yes, it seems to hum along... so with you small range of TV channels (by comparison) and limited range of data - is the Ram required for NZ ?
Interested in other users feedback...
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