The Broadcast Flag is supposed to prevent people from sharing shows or transferring them from their DVR to their PC, which is why TiVo needed a waiver of sorts to add TiVoToGo.
While its product page on the company's website isn't live yet, the folks at DBSTalk have been testing it and already posted one of their detailed walkthroughs, revealing the box as a TiVoToGo-style transcoder.
It wasn't very extensible, and their whole partership with Microsoft to deliver content to PMCs never really panned out, but today TiVo is expected to announce an enhanced TiVoToGo service, which would allow subscribers to transfer recorded programs directly to their iPods and PSPs.