From Teodor Mihai Filimon:
TV Set is a TV set for your sidebar. You can can change between 5 TV stations and you can customize each station by changing it with your own URL. You have a stop/play button which can stop/play the receiving of the active station. You also have 5 station buttons which simply change the channel when you click them.
Only 3 stations are set by default, but you can change the URL for any station you want by clicking the URL button. You are then asked to write the URL of the tv/video (including the http:// part) and then give it a name (as you want it to appear in the gadget). This version is the first release on CNET Download.com.