Not quite true. Lower end cable plans often do not require a converter box.
Analog cable doesn't go over the airway.
And its been my understanding that this only effects broadcast tv.
Signal-wise, Digital cable is crap and most satellite channels are crap.
But there's no other choice for those of us who live far away from a major city, so we live with it and grunt.
Whether you're on cable or satellite, and receiving locals from either one, when the local stations switch to digital only, you can still receive them from your cable or satellite company without the need to purchase a separate digital to analog converter. (assuming you decide to stick with the analog TV set beyond the 2009 cutoff).