My wife and I just moved and decided that paying $150 for Comcast Silver + HBO + HD "Bonus" was just too much. We moved out to Portland and subscribed to Verizon ViOS and cut our "media" bill to $85/month (we got a higher tier). I got "permission" to build a sweet HTPC and hooked it up to our 46" TV.
With Hulu, Netflix, a vast library of personal DVDs on a jukebox system, and a fat pipe to the Internet, we've been doing quite well. Unfortunately we like our sports and ESPN360 isn't really there yet. When we want some background noise, Aussies rule Footie has been great, but we're really noticing the lack of NASCAR, March Madness, and are worried about actual coverage of June the World Cup. We're actually looking at satellite to at least get the World Cup without worries.