I wouldn't use the slingbox within your home, Correct me if i'm wrong, doesn't all of the traffic go out(upload) over your internet connection and back in(download).
If possible run Svideo and Audio cable to your exercise room and get a IR remote extender to control your pvr box. Take the money you saved on the slingbox and put a small wall mounted LCD in your exercise room instead of using the laptop.
If possible run Svideo and Audio cable to your exercise room and get a IR remote extender to control your pvr box. Take the money you saved on the slingbox and put a small wall mounted LCD in your exercise room instead of using the laptop.