DescentBB

I’m getting ready to format a drive NTFS for recorded TV, and the question is…

Does cluster size affect drive performance, if so and I set a larger cluster size will it be worth it, or just a waste of space?

My experience is no it will not. We used to use that back in the day to maximize HDD storage capability. But with the low cost of drives today, it's really does not need to be adjusted any more. Just buy another drive and install Linux for an OS

Leave it at default (usually 4 KB). Larger clusters don't improve performance, smaller clusters don't liberate any worthwhile amounts of disk space.