I was in the exact same situation with a dead PVR. I wanted to stay with Shaw and new I would, but didn't want to pay the $600-$700 at the time for a new PVR.
I phoned up and said I need to cancel. They asked why, I said my PVR was dead and Bell's were only $400. I ended up getting about ~$200 in credits that were knocked off my bill for 6 months and a bunch of free shaw on demand or some other thing I never used. Sounds like if you turn that down you end up getting even better offers though! I needed mine right away for Euro Cup though.
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