I've tried cable twice over the past four years or so, each stint lasting no more than six months. Each time, I found it more hassle DVRing, channel checking, or hunting down broadcast schedules that I canceled each time with no regrets.
Well, very few. There have been two times that I went to a friend's house to watch a live event.
As alternatives, I've watched the Olympics live streaming, downloaded whole series of tv shows (anime, out of print, and more) via BitTorrent, or explored movies on Hulu, Joost, YouTube, and other online offerings. I also have a very substantial (purchased) disc library (I still enjoy my HD-DVD player very much, thank you!). That includes box sets of great cable shows, like Rome, Deadwood, and more. Much of that has been ripped and served via my Xbox 360 to my living room.
Bottom line, I've saved at least $60 per month on cable, simplified my entertainment setup, and spent more efficient and pleasurable time in front of the tv (negligible ads!). No cable tv for me, thanks.