From the NTIA: Digital TV Transition and Public Safety FAQ:

18. Will I receive High-Definition TV with the aid of a converter?
No. Analog televisions are not capable of displaying high-definition resolution, but the picture will generally be better with a converter.

Generally better my big ole fat butt. Here's the problem -- if the DTV signal comes in well 80% of the time, it's UNVIEWABLE the other 20%. UNVIEWABLE. With analog, if you've got 20% trash, it's generally viewable and hearable throughout.

I'd rather have snow and color loss 100% of the time than 20% absolute trash.