
I don't watch much, because 99% of what is on is just utter rubbish (soaps, reality tv, etc.).
But occasionally there are some gems...some BBC documentaries in particular can be excellent, especially their natural history stuff. I am really enjoying Human Planet at the moment.
Also I try to watch the news once a day, and at times like now when there is a general election it is good to see the leaders debates and so on.
Sports is another one, I am not a huge sports fan but I enjoy international football and rugby. TV is important for me for the 6 nations at the moment.
And at times it is nice to be surprised with some show that you were not expecting to watch, like a good Star Trek TNG episode.
Then again I could probably see the majority of the things I watch on the internet or dvd, but not all. Still, TV can be useful, so long as you are selective in what you watch and don't just sit there blankly staring at whatever they decide to throw in front of you!