I'm excited to see a deal like this come across the wire. It's a step in the right direction for the company behind my beloved DVR and might help to save them. SigO and I went through a TiVo-less period last summer when our first machine melted, and there is no going back, I tell ya!
It also makes me happy because back in B-school I did an analysis of TiVo and what it would need to do in order to survive as behemoths like Comcast developed their own competing technology, and this type of licensing was one of my primary suggestions. The TiVo technology runs circles around the other offerings, particularly in the user interface department. Current digital cable program listings just plain stink.
Hopefully this will mean that Engadget can discontinue their TiVo Deathwatch sometime soon!
UPDATE: This interview with the CEO of Comcast kind of supports what I'm saying... we'll see how it actually pans out. Apparently there are some TiVo purists who are freaking out.