For many people, the biggest barrier to canceling cable is the loss of live sports. While MLB.com has a package of games you can stream online, and CBS has offered a popular March Madness on Demand stream, many other leagues have been slow on the uptake. Plus, there are often restrictions and blackouts with some online season pass deals. For example, the NBA League Pass Broadband does not include nationally or locally televised games. So if you're living in Boston, you won't be able to see Celtics games online if they are also on TV at the same time (whether they are home or away).
I lived without a TV for about 9 years. It was really pretty easy.
I've had cable for about 3 years and the only reason I got was because I was having a child and I wanted some brain-deadening sports when up late at night.
It's worked. I'm now braindead.
I'm deciding now whether to cut the cable cord and the only thing I think the only thing I'll miss is random basketball and baseball games.