I have been collecting TV shows for a long while. I put them on an NAS External Hard Drive (WiFi). I also have WD TV box that can read the NAS drive and play the contents. I also use PLEX software that runs through WD TV and ROKU.
Now, I can ‘process’ a tv show (cut out commercials, etc), put it on the NAS drive and view it on the LCD TV.
TVs and Computers can finally talk to each other.
Best part of ripping your movie and TV collection is eliminating the 10 minutes of forced advertising and shows at the front of the DVD/Blue Ray disc. I stream everything through my PS3, the kids tend to stream it directly through the TV. The PS3 is used to connect to my media server on my computer.
Cable companies have no clue that they are going down. I told my kids that I was pulling the plug on the cable (teens and twenty somethings going to college) and they joked that was cool since they had not watched anything on cable in the last two years.