Zip and zap both carry connotations of speed and ease, and have several specific meanings, like "zipper" and "Zap! " Usually the operator would be referring to an unpleasant commercial, or a boring piece of dialog. "The good stuff" could refer to something he knew in advance he'd like, or simply that he'd keep scanning until he found something that looked good.
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Avangi"What's the antecedent of it?"TIVO as I found is a very capable digital video recorder that can record more than one TV/Cable/Satellite show at once. But it also allows you to skip the TV commercial when you record a movie from TV. I found some web pages which discusses this theme, like