I haven't had cable in over 3 years, and I don't miss it for a moment. Between Boxee and Netflix Streaming via PS3, it's a complete waste of money.

Per the live events issue, that's largely a non-issue for me because it almost never fails that a friend is throwing a party or we're meeting at a bar. Olympics are the exception. For football games, fight night, et al, the atmosphere with a bunch of cheering fans is just so much more enjoyable.