I would hope it does. Otherwise it would be one more point that makes my ReplayTV the better choice (for me, anyway). I have had to delete some channels from the Channel Guide on my ReplayTV, because the service only provides general listings for my area's cable system - either Digital or Analog. And those changes have survived power losses. Several, in fact.

From what I gather out of more than one Replay vs. TiVo discussion over at AVSForum, it seems that any user changes on either unit should stick. Unless of course, you performed the necessary procedure for a factory reset.