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Let me just say that I'm not a cable expert first, but I have installed cable outlets in every room in the house. Family room, home office, master bedroom plus three additional bedrooms. My house was prewired for cable in the family room, master bedroom and the bonus room upstairs.
There is distribution box with 4 outputs, three were used obviously. I splitted the cable from outlet one/master bedroom, to two other bedrooms. I then splitted the second outlet/bonus room to the third bedroom and home office. I didn't install the ground block you mentioned but haven't noticed much interference or loss.
Unfortunately you will need to buy all the necessary tools/kits in order to complete your tasks. It's also a trial and error process, until you hook up the additional TV/VCR, you won't know if there is any loss. You may want to get a splitter with signal booster. My cable modem still kicks butt even though it's shares connection with two other TVs.
You can connect the cable modem straight to one of the four outlets on the splitter, not sharing with any other device in the house. Or, if you must share, connect it to one that isn't always used. Perhaps share it with the guest bedroom outlet, if you have one.
Good luck!
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