Netflix internet streaming isn't terrible, best for watching TV shows imo. Most of the movies it has are already available for free on In-Demand channels for HBO, Showtime, etc.

Netflix also has a ton of Stand-up specials which is kind of cool. I don't think it would take the place of cable though.

I guess it would be cheaper to just have this for $7.99 instead of the premium channels, but I just don't like the limited selection.