Hi Def Tv's
Yes it is, but for the size display the OP was considering, there is NO DOUBT that getting an up to date hi res 1080 is the ONLY way to go. Even though local broadcasts are "less" that can and is changing all the time. Many stations are still in a state of flux, and may yet change ('xample) from UHF back to VHF as channels become vacated, etc. This is because VHF propogates better, suffers less ground loss (wet trees, terrain) and the transmitter itself is higher efficiency at VHF than UHF.
ON a side note there is NO SUCH THING as a "digital" antenna, period. TV antennas are the same VHF/ UHF antennas they always were, and need to be high gain as dictated by your fringe area. THE ONE THING that is now much more difficult to troubleshoot is interferance (from other sources) and signal ghosting (multipath.) You could SEE and HEAR the interferance and ghosting on analogue sets, but now all you see is tiling, freezups, blanking, etc. Much, much more difficult to run down and identify.