Actually capturing the video with the HD-PVR isn't all that intensive because all of the processing is actually done on the device itself. WHere you'll need to make sure you have a decent rig (though doesn't have to be all that fancy) is when you're editing videos. Here's my current setup and I can play pretty much every PC game on Very High and then also run my video editing smooth as butter.
MSI 870-G45 AM3 AMD 770 ATX AMD Motherboard
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AMD Phenom II X6 1090T Black Edition Thuban 3.2GHz Socket AM3 125W Six-Core Desktop Processor
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G.SKILL Ripjaws Series 8GB (2 x 4GB) 240-Pin DDR3 SDRAM DDR3 1333 (PC3 10666)
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ZOTAC GeForce GTX 460 (Fermi) 768MB 192-bit GDDR5 PCI Express 2.0 x16
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As for the software you'll need for editing HD-PVR videos, you'll want
Sony Vegas Movie Studio HD Platinum 10... not just because it's quite a good piece of software at a reasonable price but also because Sony designed one of the proprietary formats that the HD-PVR uses (M2TS).
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