check out www.tvfool.com to see what local stations you can pick up. I have just an outdoor TV antenna, and supplement that with Netflix, Hulu, and other online sources.
Playon makes a product that integrates several online services with boxes like the Wii, PS3, and xbox. I use SageTV for my PVR and it has a Playon plugin, so I can watch all Playon stuff through that connected to my TV.
To me, I don't care how old some content is. I started watching the first season of Ax Men on Netflix this week
And I don't have to pay extra to have the History channel.
It takes money up front to pay for an antenna, SageTV, Playon, and any computers or video extenders, but it pays for itself in a few months. Plus, I never have to worry about my local stations being taken away from me. At least not until the government steals the over the air frequencies for the cell phone companies.