I've got bt broadband.
The homehub is the router where everything like the phone and vbox is connected.
The V box is the btvision box whichi is basically freeview but you can record pause live tv etc and that sort of stuff, plus its like 4od you can purchase films and stuff in it.
I have option 3 but my speed is like really low just now for the past few weeks.
It's ok and easy to set up etc but it does get annoying if your using a mac, escpecially via wireless because it sometimes drops but on windows there fine.