I have had the service now for a few days, and I love it. I can't compare it to Shaw, as I have never had service with Shaw.
The PVR is great, I have found tha many tiems I am recording a show and watching another, or recording 2 or 3 shows at once. The picture quality is very good. All the HD channels appear to broadcast in 5.1 Dolby. The guide is fast, and I love to 2-click record series feature. VoD is nice, but a little slim on movies right now, I called and was told that they are converting the MTStv VoD library over to the IPTV service, and that new titles will be showing up everyday. They have some great old NFB titles that I remember as a kid, fun to go through those again.
Overall, I am extremely impressed, and it is worth every penny I pay for it.