I've been using XBMC for years and use it on a daily basis. I've been making use of the PVR capabilites for a couple of years now (though it's been in beta on a seperate dev branch until recently).
If you want something prebuilt and easy to setup then OpenElec is a good way to go.
I don't use OpenElec. I've setup my XBMC systems from scratch, because I like the flexibility and they do other things apart from just run XBMC.
They will play anything I've tried. No issues there.
I used homeplugs too and they work fine with the whole setup.
I prefer nvidia based systems for XBMC and Linux but others prefer ATI/AMD. Read the forums if you're all that interested. But I'm sure OpenElec provide builds for either out of the box.
EDITED: 16 Nov 2012 13:47 by ANT_THOMAS