I don't think it's in the wrong section, although it does deal more with multimedia.
That being said, Over The Air aka OTA, is just that. Over The Air signals.
As far as that foxdigitalhd, if it is like every other streaming service then yes, it is compressed, and no, it isn't bluray quality in the sense that trying to stream at the bitrates required for what can be considered bluray quality, would require a constant downstream around 30-50Mbps just to be sure of no interruption. Most "1080P HD" quality video streaming is usually only around 8Mbps.