I do not have cable TV, though I enjoy watching some cable-only programs when I visit friends and family.
I have two old CRT TVs running the converter boxes PowerNoodle mentions with the types of antenna's you can buy at any WalMart or drug store.
My reception is great. If you don't live near broadcast towers or the terrain is mountainous where you live, you could have problems with reception.
I have thought about buying this DVD recorder with built-in hard-disk drive to record shows:
http://www.amazon.com/gp/product/B0020ZW8P8/ref=ord_cart_shr
In general the devices are a bit glitchy yet, based on reading Amazon.com reviews. Problems seem to stem from the new digital-receiver technology.
None of my VCRs with analog receivers can be used to program recordings as they used to. But you can manually record shows with them (turn on all the components and hit the "record" button) just fine.
I use Netflix and love it. There are more and more options (Roku box, Wii compatibility, etc.) to stream content from Netflix over the Web and basically get instant access to all sorts of programming right on your television. Currently I watch lots of stuff on my laptop through Netflix, in addition to getting their DVDs in the mail.
When I update to flat-panel HD TVs, I think I will get a Roku box for Netflix. My brother has it and it works very well. Turn it on, scroll through the programming, pick what you want -- watch it.