On the whole, it's tolerable
Yeah, I picked up an LF-30S from the local Circuit City, and "tolerable" is the perfect word for the reception I was getting. The picture was reasonably clear, but I'd get occasional clicks and pops in the sound, and random blips in the picture on occasion as well. The color was also extremely washed out (compared to the regular cable signal on the same TV), something I didn't really expect to be a problem. Granted, the aforementioned walls and distance probably contribute to this.
I don't have a phone line in the bedroom where the TV is, so at this point, I think I might look into getting a 2nd ReplayTV for the bedroom, or possibly even scrap together a PC that I can use in an HTPC type setup (and use DVArchive to view stuff from my Replay.)
So, the verdict on the video sender is "eh."