If I have basic cable, will I get any good out of a flat screen HD tv?

I'm thinking about buying a 32" Sanyo flat screen. My current tv is a ten year old 19" Sanyo rear-projection. While it still works perfectly, no complaints, I feel very behind the times. But I only have basic cable (channels 2-76, not digital box or anything). Is it worth it? I usually watch movies on my 24" computer so it's not a huge deal as far as watching movies.