Wonder for practical purposes, what the difference is?
Favourites appear in My Week, but don't record. Recordings appear in My Week and record.
I have favourites set for things that I'm interested in watching live, but not recording, like cricket test series and ODIs.
Thanks, that clarifies it for me
Favourites can also be handy for managing conflicts where you demote your least popular show from a recording to a favourite. Then you can still see it in My Week and easily see, in future, when it no longer conflicts with your 'must have' shows. At this point you can promote it back to a recording.
Some people use Favourites to spot repeats of a series that they set to only record first runs.