Paul and I were talking about this the other day. We have two TVs, neither of them HDTV transition ready, we haven't yet decided to buy new TVs or converter boxes; I'm pretty sure we'll have to replace our antenna, too.
So... in the midst of coming up with a plan, we decided to just....
let TV go. We've lived without it before, no big deal until we got used to having it around. We were more productive (reading, exercising, making art) then anyway and besides, we still have the internet, public radio, netflicks, what have you.
So the new plan is to have no plan and deal with the conversion whenever and if ever. I'm not going to freak out in prep for this mandated thing-a-ma-bob. In fact, the more I think about the panic the networks must be in about keeping us all hooked, the less I'm inclined to get sucked in.