We got rid of it for a year and a half and I never missed it. We just signed up again a few months ago and I honestly don't watch it! I'm still watching Netflix! I wish we didn't sign a 2 year contract or I'd cancel :-/
We just cancelled again. I had gotten rid of it back in 2009, didn't need it, felt good about it...then my husband - WHO DOESN'T WATCH TV - said he wanted it again for baseball. So he went and got a Dish - and watched two baseball games over the whole contract! Finally, he came to terms with $1200 a year for baseball games he doesn't watch was pushing it.
I don't mind paying for it if it gets used for something (like baseball) that I can't get another way. I do when it gets used to watch shows that show up on Amazon for $2 the next day. Or for free six months later. Or barely gets used at all because the combination of Netflix and Amazon meet our needs.
There are maybe four shows that we pay for through Amazon. The biggest one has 22 episodes a year - Sherlock has had nine episodes over four years (but they are really expensive episodes to buy - a whole $4 rather than $2). The whole "buy what we want" ends up costing us less over the course of a year than two months of cable. I like Downton Abbey, but I'm willing to wait six months to watch it for free.