No. It pretends to work but the option to play is greyed out on mine and it stays greyed out until the rental expires. The software also works at a glacial pace.
OK, you inspired me to try out a free "rental" of 12 Monkeys. I hit the DVR button, then the Movie Pack list item, and then search by genre Science Fiction. The movie buffered for about 15 seconds (while warning me of a 30 second wait) and then started playing a nice HD picture without issue.
Now we already know your 722 melted itself down for reasons unknown. But your issues cannot be a general problem with 722's or many thousands of people would be screaming. My first 722 stayed on an open shelf fairly high up in my furnace room. I gave it no extra ventilation, and it never fried. After many years (lost count) it developed a cryptographic problem. Dish replaced it for free (with protection plan for a month) with another owned receiver. That one too has performed well for years.