I cut the cord a while ago, and just do online documentaries, public domain movies, or YouTube for video. I had netflix but even that fell by the wayside because we're working our way through a series that has over 1,500 episodes roughly (if memory serves). There is more good free stuff to watch than I will ever be able to see in my lifetime.
Every single time I catch cable on on a public place or restaurant that has a TV I am so glad we don't pay for it. Once major sports franchises work out the kinks of alternate means of distribution you are really going to see the bottom fall out I think.