Yes, the V-80HD can use both the Streaming & Recording and Video Player/SRT functions at the same time, except in the following cases:

• Resolution Limitation:
  Either the streaming, recording format, or the file being played back on the video player exceeds 1080/30p (for example, 1080/59.94p).
• Bitrate Limitation:
  The combined average bitrate for the streaming and recording encoders, along with the file played back on the video player, exceeds 20,000 Kbps.
  Note: If you stream directly via LAN output and record at the same time, the bitrate is not doubled. For instance, if your stream bitrate is 12,000 Kbps, your recording will also use 12,000 Kbps, leaving up to 8,000 Kbps available for your video file playback.