No, this is just a TV tuner, which outputs to mpeg-2 format. You can accomplish what you want with a few pieces of software. 1.) DVR software, available from HDHR with a premium subscription. 2.) Transcoding software, i.e. Handbrake, to put the resulting recordings in a format readable by the DVD. 3.)DVD burning software to get them on to the discs.
Good luck with your research!