V6 to V360 is an existing box update using the same hardware. Only the box firmware is updated, so no box change is required.
You are correct in that the hard disk has to be reformatted for the update, so you will lose your recordings.
VM BB TV Landline. Vonage 2nd line. Freeview/Freesat HD, ASDA/Tesco PAYG Mobile. Customer since 1993
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