I like TV, but I don't like flipping channels to see if anything's on, and I don't like commercial interruptions. Now that the NCAA is streaming every March Madness game on its iOS apps, and MLB.tv shows almost every game, it's close to the perfect opportunity to go almost Internet-only for TV.
iPad 2 and Wii for gaming
MLB.tv subscription streaming through the iPad
Netflix on the Wii or iPad for TV episodes and movies
I'm OK with episodes not being from the current season. I'll catch up later on my own time. Maybe I'll go to the theatre for must-see-on-the-big-screen newer movies.
If I lived in America, this would be my setup. Only MLB.tv's blackout of Blue Jays games is preventing me from diving in. If Major League Baseball charges more for blacked out games and show commercials (they generally don't on available games), I'm interested. I'd probably go to a bar to watch the World Series unless the Blue Jays make it, when I'll buy the PostSeason.tv package (assuming no blackouts).
Since this is Canada, the only way going Internet-only TV for live events is for hockey to copy MLB Advanced Media and stream every game live for a fee. Money on the table, guys.