Yepp.
You run ALL your Video devices into it, at native resolution of whatever you are watching. I have my Direct DVR sending Native on all channels, and the BR player of course is 1080p/24. The processor has all KINDS of adjustments, above and beyond the standard AnchorBay chip that comes in Denons and the Oppo. It has TWO video HDMI outs, so I have one running to the TV, and one is blank, and a third is for audio out to the Denon. It passes the HD audio off BR just fine.
When you connect it, it'll talk to the tv, and figure out what formats the tv is capable off, so a lot of the settings you leave on auto and it does a great job. As far as Directv goes, the native goes in to the Duo, so there is not ANY processing done by the broadcom chip, and the Duo scales it to 1080p/60, and send it to the tv. This means the tv doesnt do anything either, it's all done in the Duo. The Duo realizes my TV is deep color capable, and 4:4:4 capable, so when I play a Blu-ray, it goes to the TV as YCbCr 4:4:4 1080p/24 and Deep Color 36 bit. My BD85 will send out YCbCr 4:4:4, which is kinda like deep color, but the missing color is interpolated and inserted, kinda like how an LCD can do film, it just fills in the blanks.
You have edge enhancement settings, built in test patterns, it auto detects the input, so if you cut off the DVR, and turn on the DVD player, it'll switch itself over. It also powers on when it detects an input, and turns itself off.
Finally, the main reason I bought it, was because of their new FW update. It added a 3D CMS system, and you are able to adjust grayscale and gamma.
This is huge IMO, because after you have the TV professionally calibrated, you then use the Duo test patterns and internal CMS/Grayscale to fine tune the signal out to the TV. You basically make the TV better than it could be by itself. It allows you to dial in damn near any Gamma you want, which is big for me because these 2010 Panny's are like 1.9, so it'll be simple to increase it to 2.2. The CMS also works well, so it can even improve up the TV CMS adjustments, or, if you have a tv without a good CMS (mine), it allows you to still dial spot on colors.
If you go to Chromapure.com, and read TomHuffmans review, you can see his before and after of a Pioneer Plasma. He took an awesome calibrated TV, and made the grayscale and color even better, almost perfect.
I watched about 30 minutes of I Robot on blu-ray, and am watching Ice Road Truckers now off the HDDVR. Im not going to say it made this vast improvement in video processing, but I will say that for a 58" display thats not professionally calibrated yet (Spears and Munsil test disc only), the PQ is VERY good.
I'll shut up now.
And yes it comes with a remote, nice feature is the "info" button, and it tells you ALL the date from the input stream, and all the data thats going to the tv.