Big Aura:
interesting - if there are just 4 'options', does that mean that that with a single LNB, could you watch 1; record another provided they were both, say, "vertical low",Theoretically yes,though in practice it's a pita and doesn't always work.
Using a splitter drastically reduces the signal strength,each leg/output of a 2 way splitter will only output around 40-45% of the input signal, so if you have longish cable runs,the stb has insensitive tuners or there's bad weather you may find you dont get any signal at all.
You also need to consider that the LNB "mode" is controlled by the STB's tuner, the polarisation is controlled by voltage switching between around 13v (for vertical polarisation) and around 18v (for horizontal polarisation) and by sending a 22kHz signal along the cable to switch the LNB into high band.
As you can imagine, two tuners sending current along the cable at the same time can lead to problems.So a splitter that only allows DC pass through on one of it's legs is required,meaning only one tuner controls the LNB and the other acts as a slave.