it gets a bit harder than that to understand LOL, but yes you could do it that way for a selection of channels ,for instance im looking at cable tech screen.
its listing 292 channels and they are inside 30 TS streams, the sat feeds will be the same or even more.
many are encrypted OC so are out of bounds and not applicable to this situation, and it just gets far to messy to take onboard this needless extra info for now.
the simplistic way to think of it is, 1 DVB-S device per TS stream at any given time, inside these TS will be several channels you can select to watch.
this is why you need to read up on it and ask the linux devs and hardcore users you can find in several messageboards to clarify the details.
you could do werse than buy a few cheap DVB-T (or DVB-S if you already have the digital [dual/quad] LMBs and dish etc) USB2 cards that are used and supported by the DVB linux guys, and play around with the DVB VLC streaming tutorials you will find if you look.
this will then directly translate to your understanding of whats required to add more devices and feed their digital content directly into the (wireless)network.
the most basic setup would be 1 suported DVB linux DVB-t USB2
device, 2 PCs and one of those streaming STBs you want to use, plus 3 VLCs running, one to act as the server that takes the TS feed, and two for playback of the Multicast TS stream, AND LOTS OF READING and asking the linux DVB heads to to help you out.
theres probably some commercial hardware to take the place of the serving VLC software,but probably not Multicast enabled as they dont seem interested in providing that yet, and it will be in the high price range probably industrial range at that, but i dont know of any as i have not looked.
and i prefer to see were freeware can take us in the community run IPTV world, all the bits required right now are there, but it needs some polish to get there right now but thats OK, theres time.
---------- Post added at 19:26 ---------- Previous post was at 19:19 ----------
"the computer(s) would be using Windows (lol), " in that case you must make sure they have
BDA drivers and even then that means make sure its Linux DVB supported.
the windows version of VLC can use BDA compatable DVB kit now but its still alpha and i cant find the time (when im in the mood) to work out how to tune it properly yet to test
but at the end of the day, DVB linux is really the only real choice in this (wireless)LAN streaming IPTV if you want it to work properly, thats were the real devs are, no real windows devs are working on it as a generic option...