Do you think a Hauppauge 1512 HD-PVR 2 will work with my TiVo?

In the back of my TIVO, I have inputs for component video (as well the audio) and I know the Hauppauge 1512 HD-PVR 2 comes with component cables. Do you guys think it would be a viable option to use to record what I have saved on the TIVO to my PC or am I going to run into copy-protection issues? I don't plan on using HDMI (which I know is riddled with copy-protected), just component. Should that work or do you guys think it still wouldn't let me record?

*Note- programs like kmttg do not work for me because almost EVERYTHING besides local networks are copy-protected. So, I am hoping this is a good workaround.

Any help would be appreciated.