Can't you just get the whole season of something from Netflix for jack diddly? I never watch TV other than sports, so I have no idea, but my resident media expert has been catching up on a lot of TV using Netflix streaming video.
The ownership of the episode is what's important. Why the hell would I rent tv? I can DVR it and record it with my dvd recorder for free, so if I'm paying a buck, I want to be able to watch it again. Shows like House definitely have potential to be watched again.