Yes. The 211 has one sat tuner and 1 OTA so its possible to record 2 things and watch a third.
Curious to know how you do that. My understanding is this: Without any OTA connected, you must watch and record the same thing. The 211 series has a single built-in tuner, so you watch and record the same thing. If you add an OTA, you do have the ability to record one thing and watch something else, a maximum of 2 things, not 3.
If I'm wrong, I'd love to know, as I am not familiar with a 211 setup with both OTA and a EHD connected. The EHD doesn't add a tuner.