Hm, on second thought, I guess it probably is, except maybe if his TOS explicitly disallows it. It's basically the same as DVRing something. Still seems wrong.

Not if you had to break even the most trivial content protection schemes to do it.

That was my thinking. And it is fairly trivial to do, on most sites. There are already plenty of ways of grabbing a stream for later viewing. If I am doing that just for me, for my own use, I see no issue with it.