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Originally Posted by GA Russell
I purchased the original for $19, and have never opened the box. I am a Prime member.
If I set up the unit now, will I be required to pay something? I am thinking that the Prime videos (which I can watch for free) could be shown on my TV. Correct?
Can I purchase cable channels (like sports channels) and then cancel my cable tv subscription?
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As long as you have an active Amazon account it'll work fine.
Unless you designated it a gift when you bought it, it comes pre-configured to your account when you bought it.
It will want to update the firmware, though. Possibly more than once.
It works pretty much like the tablets: it comes pre-configured for Amazon services and it connects to an app store to install apps for games, utilities, and services. It is extremely flexible so it takes a bit of research to figure out all it can do and decide how to configure it. I've found this site very useful for news and tutorials:
http://www.aftvnews.com/tag/guide/
It is a complete ecosystem, like PCs or Macs, just focused on media and casual gaming. It does have a couple of browser options so it can be put to other uses.
As a baseline, you'll have access to all the Prime perks (videos and music) and you can install apps and games to customize it to your taste. If you have libraries of music, photos, and videos on your home network, you can sideload Kodi (fast and easy) or install the paid MrMC media center app or free Plex client. There is a ton of video you can watch without subscribing to anything but Prime. This includes the free stuff available via cable channel apps without authentication plus services like the CW app, Sony's Crackle, Crunchyrole, VRV, etc. CBS NEWS, CBS SPORTS, and ABC, NBC, and Fox apps offer a lot of ad-supported content for free, too. CBS requires a paid subscription for almost anything worth watching. Assuming you consider anything on CBS worth watching.

There used to be an app that let you watch live UK TV. Not sure if it's still available.
For cord-cutting, it supports all the major and most of the minor streaming services. Depending on the cable channel lineups you want, you might prefer Sling, Playstation Vue, Hulu Live TV, DirecTV Now, Philo (coming soon), or ATT Watch (ditto). Most of those cable services can be used to authenticate the various free on-demand Cable network apps (SyFy, Lifetime, AMC, etc) for on-demand viewing and extra content.
There is also a framework for true ala carte signups of streaming video services called Amazon Channels. These are mostly small startups but it includes most of the so-called premium cable channels like HBO, Showtime, Starz, etc, that can be signed up independently of the bundled live TV services. So you can sign up for HBO, for example, without having to sign up for a live TV service.
Finally, there are a couple of apps that let you watch and DVR broadcast TV channels via special home network gadgets.
Also, the FIRE TV line can be controlled via Alexa devices and the Alexa app on smart phones.
Bottom line: the thing is heavily-favored by home media enthusiast because it is ridiculously customizable and Amazon rarely blocks mods and hacks. (They do frown on apps that enable piracy or hide Amazon services, for obvious reasons.

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I bought two of the introductory sticks and never regretted it.
I recently added one of the second generation sticks.
Definitely explore what the stick can do and if you get hooked or find it a viable cord cutting tool, be aware that there is a fourth Generation Fire TV Cube coming soon. It will combine the FireTV features with Echo Alexa capabilities and (maybe! maybe not) a TV TUNER or other hardware features.)
Have fun!