A great article breaking down the 'actual cost' of one man's attempt to recreate his viewing habits without cable.
http://hdguru.com/setting-your-hdtv-free-cutting-the-cablesatellite-cord/4527/
Thoughtful, but slightly off in the math. For example comparing going OTA + TiVo to cable is only for the first year, where all the up front costs are, but not comparing year two, when the savings are obviously dramatic. Still the approach can help you quantify your own decision - 'gee my Bravo shows aren't on Hulu' - does that become a deal breaker? For me those decisions become worth considering if the few shows I can't get by going off cable are worth $100/month. The obvious answer here is Bethany Ever After and Bill Maher are not worth $100 a month. Also, the author failes to mention what is gained in addition to money saved.
Go TiVo and you can transfer shows to your phone, iPad, PC, etc.And if you ditch the cable bill, you'll be able to afford a new tablet every year for what you're tossing to the cable company.