There is some misinformation in this thread.
Current NTSC TV picture is made up of 525 horizontal lines, although only 483 are visible on the screen. In computer terms, think of it as 720 x 483. In other words, let's call it 480i. The I is for interlaced - i.e at 30 frames per second, each frame is made up of 2 fields. The electron beam paints all the odd lines, travels back up to the top and paints the even lines, 30x/sec. (another way - each field is 1/60 sec)
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Persistence of vision" is what makes it look flicker-free to the human eye. As a point of reference, the films in theaters run at 24fps and anything over about 16fps will work. TV's 30fps rate is based on clocking the signal off of the 60Hz line rate of the AC grid. (remember this was designed in the 40's)
Most people associate digital TV (DTV) with HDTV, but they are not necessarily the same. There are still 17 different HD Standards, but the 3 most common are 720P, 1080i, 1080P. The P in this case is "progressive" scan. Lines are scanned sequentially from top to bottom - 1,2,3,4,etc.
Over the air HD will be either 720P or 1080i.
You can multiplex (6) HD signals in the same bandwidth as a NTSC signal.
Interestingly, 720P @ 60fps, and 1080i @ 30fps use the same bandwidth.
720P = 1280 x 720 pixels
1080i = 1920 x 1080 pixels
Bandwidth is the big issue driving the DTV change. Don't forget the govt "owns" the licenses of the airwaves. The analog space has long ago been chopped up and auctioned off. NYC is already building a city-wide EMS system that will allow all EMS vehicles to be online anywhere in the city, even though they can't turn it on until 2011. The cable guys are happy too, because they can jam more channels, internet, phone, over the same pipe.
We can start a whole 'nother thread about aspect ratios and other fun stuff.
Two good reference sites are the
FCC's page and
DV InfoNet