Sony beats Apple to the punch. Tens of millions of Sony tv's in homes. It might work.
I don't care a fling and flick of poo who does it. More power to Sony if they can finally pave the way for this to happen. This is one aspect were I'm more than happy to empower the pioneer in this so that it becomes "mainstream". I'd sell my tv before I pay for cable tv. Pay per channel, that's where it's at and I think that's where you'll find tons of people want this.
Content providers are scared that they will piss off cable companies, but think of it this way, stay traditional or be a first mover and piss off cable companies but go completely iptv serving up per channel. Yeah it's a heck of a risky move, like betting the farm, but rewards COULD be huge. Plus it'll slim down operations of content providers to produce only what people actually want. The field would become more like, well already is, but like music. Turning out same crap ppl want (reality shows I'm looking at you).
It's really only a matter of time b4 it happens, but will it be now or 20 years from now.
Edit: I know it's a dream, but this is an area that pisses me off to the amount of control cable providers have.