You won't be the only one combining channels
however I've not personally got a DVB-T card to test this out myself.
Andy Brown (andyb2k5 on IRC) has been using my stuff for quite some time and he has such a setup. There have been a few teething problems with merging channels, but we think it might have been a result of "how" he merged them. In theory it should work just fine. But see how you go, I will try and get myself a DVB-T card at some point to allow me to do some testing.
Honestly I can't be sure about that. It might affect the time it takes to grab the data and it might be a bit patchy, but signal levels can be deceptive. I'd have to say give it a go and see how you get on.
I've also got a Freesat EPG grabber, though it's still in dev and can't remember whether its currently available in my github fork. This however would obviously limit the channels you have access to (for example those channels on Freeview and not Freesat, or if you have any sky subscription channels). I'm also working to improve the combining of multiple grab systems, so they "co-operate" a bit better, but for now I'd try and stick to 1 main service (with EIT as a fallback).
If you need any help, pop along to IRC #hts, I'm usually about and there are a few people in there that use my code.