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From Wikipedia, "QAM is a digital television standard using quadrature amplitude modulation. It is the format by which digital cable channels are encoded and transmitted via cable television providers." In short, it is the format used by cable tv to be fed into your converter box. If the cable company does not scramble or encode the signal first (as most do for all signals now) the TV would be able to display "clear" (unencoded) cable channels. Whether this will work for you entirely depends on how your cable system distributes it's signal.
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