I've had both - currently we have DirectTV.
If I had to do it again, I'd go with cable.
DirectTV is cheaper. Considerably cheaper. But, you pay extra ($5/month) for every receiver in your house. So, even if you have "cable ready" TV's, you need the special receiver in every TV just to get a signal, not just premium - ANY signal. So, if you have a 4 BR house with TV's in each bedroom and one in the living room and maybe another one somewhere else, that's a lot of extra $ for receivers. With cable, unless you want the premium stuff in every TV, you just plug in a cable ready TV and you've got action.
Plus, with Cable, you can bundle internet. We had to use Verizon DSL because of DirectTV. We pay extra for the high-speed DSL (not the 768 basic). It's OK, but it's NOTHING compared to Cable. I couldn't even imagine having to deal with the 768 basic speed. Our DSL is 3MB download. Cable is 6MB - twice the speed. Believe me, you notice. Plus, with Cable internet, you can plug a computer into any room with the cable jack. Our house came with cable in every room, but not phone in every room. So, if we wanted DSL in a room, we needed to install a phone jack.
Our satellite link does go out occasionally, but usually not for long. It's more of an annoyance - you get all involved in a program or movie and BLAM! It's out for 30-60 seconds. Kind of takes you out of the mood.