Aside from the obvious dilemma of where to spend your money (there's some new phone launching on July 11, remember?), the mid-July timeframe does work with the previous announcements that Channel 7 made about it launching before the Olympics.
The box itself is likely to cost somewhere around the $700 mark, which isn't exactly cheap for a DVR. Seven are likely to promote the box's superior EPG functionality in order to justify that price, although we'll wait to see how it's implemented ourselves before we recommend on whether you should spend the money.
The other interesting point made in the Fin's article is that Harvey Norman are likely to have an exclusive distribution arrangement for 3 months, before it will be available in JB Hi-Fi and Dick Smith's shops.
I'm sure there are important factors influencing that decision, like scratching the backs of old mates and heavy advertisers, but I think Channel 7 may be overestimating TiVo's appeal in Australia. Personally - I'm very intrigued, but I would need to see some obvious advantages in TiVo's local implementation before I dropped 700 big ones. Especially now that Foxtel's iQ2 is on the market.
UPDATE: Pete Blasina over at GadgetGuy.com.au is reporting that the launch date is officially July 15. Considering his relationship with Channel 7, I reckon this is pretty much guaranteed.