A few words about the television conundrum

I (heart) TiVo. I (heart) our HDTV. I plan my week around The Amazing Race (and faithfully read all the recaps at Television Without Pity - Miss Alli is da bomb). I have a subscription to Entertainment Weekly. I grew up on Captain Kangaroo, Looney Toons, Electric Company, and weekday afternoon reruns of the Brady Bunch and the Love Boat. So, is it so bad that I let my two-year-old child watch and hour or so of TV each day?