I just got the ReplayTV 5040, so far I really like it, but I have one question, since it updates at night, should I be leaving it on, does it hurt to leave the power on all of the time?
Unless you unplug its power cord, it's basically "on" all the time just waiting to start recording something or do the nightly updates. The "power" button is more of a video "on/off" sleep mode button. So, it doesn't really matter.