I've managed to get the IPTV working on the V9S and works sweet. Download your m3u playlist and rename it as tvlist.m3u, transfer it to USB (Formatted as FAT32), stick it in and press the IPTV button and your playlist should load.
Video showing it working on mine can be found on my repo, here -
http://repo.getrpi.co.uk/IMG_7242.MOV.mov