- Do I need certain capabilities on my TV? your tv needs to be able to receive a signal either via HDMI or composite cable [R/Y/W] - if it has coaxial input only you will need an rf modulator, which costs $10-15
- Do I need an extendar? what do you mean by an extender please?
- Am I able to get local channels (for example local news and weather)? no, not via roku. you would need either an over the air ("OTA") antenna or at least basic cable to get local channels. roku does not receive channels in the manner you are used to. it's more like a collection of services you can pick and choose from, and most of the programming is on demand, like a giant DVR
- Am I able to stream other networks that aren't listed such as CBS, ABC,FX and Spike? not exactly. you can get some programming from those networks from services like hulu plus, netflix and amazon instant video, and those services have roku channels. again, this would be on demand or per episode content, not live
- Will I need any additional equipment? you may need an rf modulator as mentioned above, or an HDMI cable if you prefer to use that. you would also need home internet service and almost all roku models require the use of a wireless router.
edit: more recent tv and movie content is likely to have a separate pay per item fee, or a monthly fee via hulu plus. there are hundreds of free channels with non mainstream new content or older mainstream content. want to watch last night's ABC sitcom? you will need a monthly subscription to hulu plus. want to watch a marathon of seinfeld episodes? they are free on crackle
N1000, roku1 XD/s, roku2 xs, roku3