Cord cutting is pretty easy these days. I've been without cable for several years now, and I don't miss much.
I use a combination of OTA antenna, and XBMC to satisfy all of my media needs. I run XBMC on an AppleTV. But you can run XBMC on pretty much any device on any platform. And from there, you have XBMC plugins that will get you nearly any media you want. At that point, you're only limited by your own ethics as far as what media content is available to you. There are plenty of options that would allow you to watch any and every TV show or movie you desire. Most of it can be accessed by streaming directly, so you won't need to actually download anything. Or if you'd like to have hard copies, you can setup an automated system that will download all the content you want the instant it becomes available, and organize it for you just like a DVR would do.
The only real drawback to cord cutting such as this is live sports in HD. Mainly what you can't find on normal OTA channels. There are plenty of options available with dependable streams for sporting events. But the quality will vary greatly if you rely on the free solutions. There are premium pirate solutions for sporting events if you wanna pay the money.
Let me know if you'd like more information about any of that. There's always a solution that would work for you....