I've never tried to record several videos with FLV Recorder or WM Recorder in the PRO mode. When you record multiple videos or record too many of them, content provider can notice that and disable your account. In reality you can watch only one stream at a time, so I suggest you not to try to record several streams simultaneously.

If you wanna record multiple streams from different content providers, it might be OK. How many streams do you want to record simultaneously?

As for DRM protection, I haven't seen any copy-protection for .FLV files. So you can watch them on any device supporting them, any number of times,...