Is an Apple TV right for me?

I have a Macbook Pro, an iPad 1, an iPhone 4, and an iPod touch 1st generation.  I recently saw advertisements for iOS 5 that showed some cool things with the Apple TV and I'm wondering if it is something I'll use. 
I noticed I have to purchase a cord first thing.  If that's the case, why don't they include the cord with the TV?  Will it work at all without it?
I watched the Apple TV video, and it looks to me like after $99 for the TV, you have to pay every time you use it.  For example, NCIS comes on Tuesday nights, but I have class.  The Apple TV advertises that I can watch the show the next day, however it will cost me $.99.  I can watch it for free next day with Comcast OnDemand, so why does Apple charge?  I guess what I'm wondering is what does the Apple TV do for $99, without additional fees?
The airplay looks very cool, but I would like some more details on how that works.  Will it stream anything from my iPad and/or iPhone?  How about my Macbook Pro?
I am hardcore team Apple and love the products, just don't want to spend money on something I won't use.  Thanks for any/all help!

There is a vast range of quality and lengths to HDMI cables, it wouldn't really be possible to include a cable that would cover everyone's wants or requirements.
There is a certain amount of free content available in addition to the paid content you mention, tv shows are all ad free which likely isn't the case with other free services, you can of course watch them whenever you want.
AirPlay doesn't work with all content but the number of websites and apps that support it are growing, essentially it works by playing content on your iPad/iPhone etc, tapping a button which switches the content to be played on your TV screen.

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