Ahhhhhhh! That's definitely not a low gain omni'. If the antenna is in good shape, you have a rather impressive high gain, directional antenna, quite capable of doing the UHF portion of work in a premium antenna system.
I have antenna envy...
Look at your TV Fool report, paying close attention to the real-channel numbers. Though many stations moved to UHF frequencies, not all did. You'll need a capable VHF antenna to have a shot at seeing WSAW (real CH-7), WAOW (real CH-9)... and there are others that are weaker. If you want to forgo the expense, satisfied with the other stronger signal that carry the same major networks, the UHF only solution is certainly a valid choice.