New Newbie Alert (general questions)

Hey. how are you guy doing. I am new to this and have a few questions. I feel the need to give some background. I am thinking of trying to cut the cable cord to save some cash.
1. Am I just going to be trading one bill for another equal bill?
2. I am thinking about going for the gusto and purchasing the Nvidia Shield Tv Because I have prime and it is supported. Is that a mistake?
3. I watch a few channels in my cable line up. HGTV, News stations, BET, Nat Geo, OWN network, and my local stations. I also like sports. Are these available and cost effective for this platform?
4. Can I DVR programs?
5. I have not played games in years, but I loved games like Metal Gear Solid, Hit Man, Tomb Raider. My hands are not good enough for the faster games anymore. Will I be able to play those and are emulators available?
Those are my concerns. Thanks for any help.