So it looks like we have what we expected to have.
Recording times are dependent upon the bitrates of the programs being recorded. These bitrates can vary significantly from program to program, from channel to channel. While resolution is a factor, it is not necessarily the determining factor, as a 1920x1080i program might get only 9mb/s, while a 1280x1080i gets 14 mb/s, and a 1280x720p could be at 16mb/s.
The early info reported here does sound like E* is achieving some bandwidth savings via the use of MPEG4. That is the key. Can we get just as good a picture from a 1920x1080i MPEG4 channel at 9mb/s as from a MPEG2 channel at 12mb/s? As I haven't seen many complaints about MPEG4 picture quality (but I haven't read all of the threads), it looks promising.
What I feared was that E* hadn't yet been able to achieve good quality MPEG4 decoding, so that there were no real bitrate savings. I'm still not convinced that E* is getting impressive results here, but as this will likely improve over time, it is encouraging to hear that some modest gains are already being realized. It would be nice for a 622 to be able to record 40+ hrs of HD at some future time.