PREACH!
I was surprised just how good the OTA digital content is. I hoped to get the 4 major networks, but I got a lot more than that. Pretty much everything "local" is available OTA for free, same signal you pay for on cable or satellite. I was able to watch the Superbowl on both CBS and on Pluto - didn't expect that. There are bundled services (Youtube and HULU but they are not alone) that you can get through your WiFi but I didn't see channels there I couldn't live without and that was on the pricey side (a better than cable option for local network channels if you can't get a good OTA digital signal though). Sports is out there too but usually a team season subscription model and not all sports. I haven't fully researched that. The only thing I am really missing right now is the DVR. Honestly though, there is so little new content out right now we really weren't using it, and RamblingMad is right - it will eventually end up on-demand on HULU or
Amazon (or Roku for free) and I subscribe to both of those - and STILL save over $100/month over what I was paying for DirectTV.
What I would do if I were you - go buy a digital antenna from Amazon (around $20 and there are tons of options), see what you can get OTA, then see what it would cost to cut the cord and add the content you really want. Worst case - you are out $20 for an antenna you won't use. You could even return that though.