I did, at one point have the same problem (I've had Netflix for a couple years) but then I discovered that watching things that I may not watch based on the short description or picture has netted some good results. I only really watch TV if I'm pretty bored, so it isn't as if I've lost anything by watching 10 minutes and then turning it off, and I've stumbled over quite a few things I ended up liking. Hell, occasionally the girlfriend and I have a few drinks and purposely watch random shit we wouldn't normally watch, sometimes you find that movie that is so bad it is absolutely hilarious, and then have fun making fun of it, a la MST3K. To me it is something worth $8 a month, plus I am not willing to pay $70/month for cable. I can see how for others it wouldn't be as great though. There's definitely a lot of content, you just have to like the content it has.
I also pay for the DVD service as well, which isn't really worth it to me because I never remember to send the DVDs back and average maybe 2/month. However I keep it because sometimes I want newer content.