I wouldn't recommend a wireless receiver as the backbone of your home entertainment system, but a product like Terk's LF-30S has definite perks.

The LF-30S is a versatile device that connects easily to any consumer electronics component via coaxial or composite connectors. It is designed to transmit a signal up to 150 feet. Reception quality is best if the transmitter and receiver are in the 'line of sight' of each other - meaning no obstacles blocking the signal path.

I think this is a good product for someone wanting to get TV in a place where the infrastructure is not pre-wired for cable or satellite reception, like a garage or kitchen.