Well, here is how it arrives.  No flashy colorful box, but who cares...

Here is a picture of the front of the Series 2 TiVo

Here is a picture of the rear of the Series 2.

A close-up of the new USB ports on the rear of the Series 2 TiVo.

And you know what this is.  Cover off and the disk drive at the top middle.
Note that there is room for an additional disk drive on the bracket.

And another picture with disk drive bracket out of the way.

Note the heat sinks on some of the chips.

And where did the edge connector go???

Check out the AVS/TiVo Underground for a great place to ask questions about upgrades.