Yeah Ken, the FCC requirement is for over the air broadcasters to broadcast digitally and for manufacturers to provide sets that will receive the broadcasts. The digital transmissions don't necessarily have to be HD and can still be standard definition although digital. Since the requirement applies to over the air broadcasters it doesn't directly affect analog cable services, although there'll probably be some type of requirement for the cable companies to include the local digital station broadcasts in their coverage.
Here's a rather basic consumer-type info page from the FCC. Of course, if you should have a burning desire(highly unlikely)to study FCC rulings and regs in the area, the site has a lot more.
