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Apple TV or the like?

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Just ordered Apple TV...even spent the extra $8 to have it overnighted, as it might be a long cold week indoors. A year ago today I was on my way to Cabo. Today I am in -8 degrees with a shitload of snow.

Anyway, thanks everyone for your help.
 
Gamelive squad. So Apple TV came today and I began the set up. It tells me to plus in one end of the HDMI cord to the tv and one to the little Apple tv disc. I see that I currently have an HDMI cord in the back of the tv running to the cable box/dvr. There is only one HDMI port.
Then it occurs to me, by installing this "Apple tv" does my tv become completely about streaming stuff? Am I able to use my tv/dvr like a normal tv/dvr without constantly hooking and unhooking things up? I'm not really crazy about that idea. I assumed this was like hooking up a dvd player or something and didn't effect the regular tv...but now I don't know.