If your tv is a cable ready HD set, it'll have a QAM-capable tuner and a cable-card slot. QAM is the technology that lets you view the digital signals, SD and HD. the cable company is FCC required to send out the local channels in an unencrypted manner. your QAM tuner would be able to show the unlocked channels, but not the encrypted ones unless you pony up and get a cable card from the cable company.
Also, some (very few) cable companys use 8VSB for their signals, which means that your standard ATSC tuner can tune them in, even without a QAM-capable tuner.
Long story short, just hook up the cable to the TV, do an channel scan, and see what you get
edit: My brother-in-law just did the above, and he gets a lot of good stuff in digital on basic. All the network locals, all the PBS channels (the PBS stations even have multiple channels with different schedules), a couple others, and even all the music channels(audio, not MTV)