UPDATE: Tried bypassing the multiswitch and connected the tuner directly to the LNB - HD channels started playing nicely! One would think that the 8/1 unicable switch is the culprit, BUT we also tried hooking up a Dreambox, WITH the switch in the loop, and it works just fine where the TBS tuners fail.
What the hell is going on?!
P.S. The funny bit is that not
all HD channels are affected, some play nicely even at high bitrates (10Mbit+) with the occasional hiccup. However, the ones on the frequency from the screengrab above (Hotbird13/12475.5H) are horrible.