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Wayne, your Sat will still work. The local channels are currently broadcasting in both HD and standard def. The standard def will no longer be broadcast. This is what your old TVs are now using. They will not be able to decipher the HD signal. The converter is to take that HD signal and convert it to a signal your TV can use. I am not sure if there is a Converter that will convert everything and put it on the line before the splitter. The ones I have seen, you use the converter to control the channel, just like a cable or sat box. I get my local channels through my Sat just so I don't have to have 2 setups. To me the $5 per month is worth it. It is just less hassle. No second box needed that way and only 1 setup. If I want to go from ABC to Discovery channel, all I do is change the channel.
As far as TVs go, if you do not need the thin design, I would go with a DLP TV. Not quite as vivid as a new Plasma, but much better picture than an LCD IMO. The DLP will also not have any issue with Burn In. The Plasma and LCD can actually burn the TV station Logo into the screen so it is always there no matter what you watch. The DLP will not. The LCD and Plasma also have a much more limited viewing angle than the DLP. I have heard that both the LCD and Plasma have gotten better with the newest ones, but you must buy the latest (i.e. most expensive) ones to get that benefit. DLP prices are low compared to the others. The down side of the DLP is size. You cannot mount it on a wall as they are almost as a regular CRT. My 46" DLP is about the same depth as my 27" CRT in the bedroom.
Hope that helps
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