It's worth putting up an antenna if you can get reception. I get KTLA, KCAL, and 4 PBS stations in HD as well as their multi-casts. NBC and ABC also have multicasts. The digital broadcasts of KCOP, KDOC, qubo are much higher quality than the SD that Dish is transmitting.
I pay for locals mainly so I can 1) get the programming guide, 2) record on Tuners 1 and 2, and 3) watch locals live on TV2.