www.hulu.com, nbc and fox are behind it and it just launched and actually works for here unlike some other sites. You can watch current season tv shows and movies for free! The catch? You get commericals as well.
I heard about it on CNN, NBC said they started it because they were losing money on itunes. I'd still rather be able to download my favoite shows and watch them on my big tv but free tv and movies is pretty hard to pass up.