I’m a little unsure what you’re asking, but the answer is pretty much, 'yes" to all of the above.
You can download a tv show to your computer’s hard disk.
You can watch it from there.
You can burn it to a dvd as data (that is, not as a VideoDVD). MUCH more economical. 5 feature movies on 1 disk. 12 TV episodes on one disk.
You can watch that disk with your computer.
You can watch most such disks with most modern DVD players that say they are DivX-compatible.
You can convert the download to VideoDVD. (Very wasteful, takes up much more space for no gain. 1 feature movie per disk. 2, perhaps 3 TV episodes per disk.
You can watch that conversion on your computer.
You can burn the conversion to a video DVD.
You can watch the video DVD on your computer
You can watch the video DVD on most (but not quite all) dvd players. Very very old ones can still have problems with it.
You can delete the video, in any or all forms, from your computer.
You can download half a season of “House” over 6 months, store it on your hard disk, rewatch the episodes, then when you have a dozen of them, burn them off to a DVD in their current format, label it "House, Season 6A E 1-12), then delete them from your hard disk and add the DVD to your existing collection of “House” Seasons 1 through 5 on ten DVD’s which you can also rewatch when you wish. Does that answer your question?