Shane, as Cesar indicated, you've pretty much got the right idea. An "HD-Ready" TV will display HD quality material, but it has to be fed it by some sort of tuner. It could be in the STB for cable or satellite transmissions, or in a separate tuner bought to receive OTA HD transmissions. If you buy an HDTV that already has a built-in tuner for OTA, then of course that's all you need, but if you have no OTA HD then it's of no immediate benefit.

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Enjoy the music, not the equipment.