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I cancelled cable TV around 10 years ago. I used to have Windows 7 HTPCs (~$300-400 ea) running Windows Media Center for antenna/broadcast TV paired with HDHomeRun network tuner, as well as Netflix and later Hulu. I was saving ~$100 per month on cable so the hardware paid for itself in the first year alone. At the time (2008-2009?), streaming boxes weren't all that good.
When the HTPCs crapped out though (and with Microsoft pulling the plug on WMC), the AppleTVs were just a much smaller, cooler (thermally) and cheaper alternative.
Our TV has HDMI-CEC so we just use the TV remote to control the AppleTV.
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