Tom wrote recently about ditching cable TV. Over the last couple of years we've been watching not much TV. With our move last winter we ended up in a house that for various reasons isn't suited to cable or satellite.
This situation brought out the rabbit ears and there is an amazing revelation that free TV is still available via plain old rabbit ears. The coming conversion to digital TV won't even render them useless though an old TV set will need a converter box. But there is the lack of TiVo. That all powerful system for time-shifting shows. Fortunately there is a reasonable solution there too.
Admittedly the Eye TV Hybrid takes some cash up front. However, it pays off in the long run. There are no TiVo fees, no requirement to use anything but a computer and some rabbit ears. Though I don't yet have even the latest software, it does a great job of turning a 20-inch iMac into a great media center. Hook it up with an AppleTV and it's even better than TiVo in many ways. Read more about Cutting the cable