The best part is that the WAF is still pretty high considering that she thought I broke the TV for awhile (she was watching Fedora text-mode boot and seeing "FAILURE" in big red letters and various errors scrolling past the screen).
I broke down and purchased a Hauppauge WinTV PVR-500 which is essentially two PVR-150's in one card - dual tuners! After a couple days of problems with the card locking up after watching live tv once, I found a thread where another user was having identical problems with ivtv 0.7.0, kernel 2.6.17, and x86_64. The solution was to downgrade to kernel 2.6.16 (devel, fglrx) and install ivtv 0.6.1. Hopefully some debugging can go into this so I'm not stuck on this kernel forever (that was a pain to find a package for).
I literally got the PVR working just as Brady and Kevin were showing up for SciFi Friday, so I didn't have a lot of time to play with it. Still, it worked extremly well and I've been pretty satisified with things so far.