Is it okay to download TV shows for personal use?
Downloading a TV show for personal use is a much less ethical grey area than distribution for profit as the financial losses for the TV network/company in question are only the advertising revenue from one potential viewer.
Is it cool to then sell downloaded TV shows
No, the quality will be potentially poorer quality than if it was viewed from a legitimate source. You would also be breaking the law and could be sued extensively. One must also consider the artistic endeavour of the artists involved in the production of the television show and question the moral integrity of a person who would deny a living to those who create the content they so willingly consume.
http://www.youtube.com/watch?v=fS6ncGEyszc
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