For three years I have not subscribed to cable television. (I almost did, once, but got impatient on hold) I can't say that I've missed out on much. In the age of internet and the fact that most places I hang out has cable/sat. I really don't need it. (I should also mention that I do cheat somewhat by having a subscription to blockbuster mail-in rentals) News and sports are what I typically long for the most.
This all started when I lived with my cousin who also did not get cable. I missed out on the Olympics, (THE OLYMPICS!!!!) the cu/csu football game, MANY Broncos games and a lot of news. I was miserable at first but it turned out good for me because I actually read some books and spent some quality time with my cousin and his awesome family. Now I don't get to put off the obvious things I need to do like laundry AND I've found that there is quite the little community of people that exist quite happily without turning on the boob tube every night. I think my dad is a little worried about me but I'm sticking to my guns. Until I can get super cheap cable or make a decent salary as a teacher, I"ll stick to my internet, blockbuster and track, but don't be surprised if I call and ask to come watch a game.