I've dabbled with Hulu - I use it to watch older programs which are
not currently in reruns in my local market (or airing on TV Land). Like regular TV, there are some commerical interruptions, but they are minimal.
I do know that Hulu features programs from NBC, ABC, and Fox (as it's a joint venture of NBC/Universal, Disney, and News Corp., it has programming from some of those companies' cable networks, too).
CBS offers viewing of some of their current/classic shows from tv.com
As for the difference between Hulu and Hulu Plus, the "Plus" offers viewing through a variety of devices such as iPhone/iPad, PS3, etc. Hulu "Plus" is also an HD service, meaning you can view certain shows (if available) in HD.
However, it should be noted that I still pay for my TV service - mainly, because that is the only way I can watch St. Louis Cardinals baseball games (as they only air on local/free TV a few times a month and all of their games are blacked-out on the MLB websites because I live in the local market).
Before you cut the cable, make sure of the following:
- If you plan to hook it up to your TV, make sure you have the appropriate connection ports and cables.
- If your TV is not compatible with your computer, make sure you're comfortable with looking at your laptop screen to watch your programs.
- Get used to non-traditional TV viewing (in other words, you can't use the remote to change channels) -- plus, you will need to set-up each show prior to viewing.
- If "computer time" for a family member clashes with your "prime time", consider investing in a dedicated laptop/netbook for the TV, only.
- Most importantly, make sure your favorite networks/programs are available on Hulu (or a similar service).