We finally did it. Every night, we'd turn on the TV, more out of habit than anything else, and see nothing on worth watching. Since money's also been tight lately, we were wondering why we were paying over $130 / month to Time Warner Cable (includes cable, phone, and internet). So today we killed cable TV and are only keeping digital phone and internet). At some point, we may switch to VOIP phone through another provider as well to save even more money (unfortunately, we have very spotty cell phone service in our rural area).
The problem with cable TV is that it's bundled. I didn't want 90% of the channels we had - we never, ever watched them. There were other channels we wanted but would have had to pay extra to get. What pushed us over the edge was the gift of a Roku for Christmas. It allows us to watch Netflix movies (and other stuff) streaming on the TV very easily.
There's also a lot we can watch via the computer (we plan on buying a TV soon that will accept computer input) including news, entire episodes of certain TV shows, etc. We not missing much - as long as I don't lose my Internet which I'm completely addicted to now.