That's not entirely true. There has never been such a thing as an "exclusive franchise" in Wisconsin. That's a huge misconception the TV4US lobby group spread. The "Video Competition Act" was mainly pushed by TV4US so AT&T (a contributing member of the "grassroots organization") could do one agreement in the state versus going city-by-city like cable companies have done for years. If Comcast, Time Warner, Bright House, or whoever else wanted to come into your town to offer cable, they could have done so years ago, but they don't want to spend the money to build out a new infrastructure.
You may get AT&T coming to your town -- MAYBE -- but I wouldn't count on other cable companies doing so. And even if AT&T came to town, it's not going to be much cheaper (if at all) than what you're seeing now.
Time Warner Cable in Northeast Wisconsin (Green Bay/Appleton) will not be getting USA HD or either of NBC's special HD Olympic channels. The only thing they're doing here is making Universal HD free for everyone during the Games.
Let the hive mind of Engadget get that for you.
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You may get AT&T coming to your town -- MAYBE -- but I wouldn't count on other cable companies doing so. And even if AT&T came to town, it's not going to be much cheaper (if at all) than what you're seeing now.