I've never owned a television with Picture in Picture capability. I've always thought PiP would be awesome for sporting events. You could have one hockey game in he corner while you watched another, or you could have the Jays game in the corner while you watched the Raps.
PiP sort of blew up in the 90s when everyone seemed to be buying new televisions with this technology. When I bought my 27" Sony Trinitron about eight years ago, it didn't have PiP, but I figured my next decent tv would have it. Here I am in 2008 and I'm still PiP-less. I'm also PVR-less and HDTV-less.
The stories I'll have for my grandkids about what we had to endure back in the day...