Our TV is streaming (using a couple Roku boxes) and rabbit ears only for the last few months. 95% Netflix, it has been great. Don't miss paying for satellite or cable...

As for the limited selection... the online browsing will not show everything. Searching for a title will show it even if it's not listed, and as you watch the suggestions get better. Or just find what you want using the web page. Even then it's somewhat limited, but the Netflix folks are ripping movies/tv shows 24x7, but it just takes time considering how much content there is available.