I’m a total newbie here, would you still have to subscribe to a service to utilize this?
No, you could use the Tivo like functionality with your current tv service so if you're on rabbit ears thats what you're going to get if you have cable all the better. But you dont have to pay a dime for it..
You have to subscribe to a services to get the TV guide. It used to be free, but it is shutting down Sept. 1st. The new service will be $15 for three months. I think they’re still working out pricing structures and all that, so that price is preliminary at the moment.