We've been using OTA (attic antenna) TV for a few years now and don't miss cable. Use Tivo for DVR and OTA programming as well as streaming music (free with subscription). Tried Netflix and Hulu, but found them lacking in current stuff we like. Might try Amazon one of these days, but get aro. 80 channels of free TV in the Chgo area OTA (several are movie channels).
Always get reminded how bad cable really is when we go south for the winter and rely on cable (no DVR here or streaming in rental). Have been finding this year that the allotted advertising time by cable channels is as long as regular programming. Timed it just the other night and it was 5~6 min of ads and around 5 min. of programming - pretty consistent. The local business ads are the worst (those inserted over the national ads). Don't see how people put up with it.