If you're lucky enough to have a developer unlocked device, you may be interested in this sweet little project happening over at XDA. Martin_S has create a very lite app that enables searching and streaming of most major TV shows. In short, the app pulls down user-uploaded videos, presumably from various video-hosting sites.
Of course such grey-area usage of streaming and copyright concerns means we'll never see this app in the Marketplace, but hey, till then you can continue to flaunt those laws and stream some mediocre quality TV to your phone on the go. The app is still kind of rough and barren--but it does work as you can see in the video above.