I was never a television fan and my husband didn't watch a whole lot so last year we made the decision to eliminate the huge monthly Direct TV bill and just go with Netflix and what we could watch for free on Hulu.  I only watch Glee and House anyway and they are both on Hulu.  We have the slowest level DSL since that is all that is available here but the instant streaming movies and shows on Netflix, as well as Hulu, play great.  We went with the one movie at a time plan - $9 a month and there is only one day in between returning a movie and getting the next one.  I will mail a movie one day, get an e-mail that they received it and an e-mail that the new one is on it's way the day after and the next day the movie is here.  So one day mailed out from here, one day no movie, next day new movie here.  The good thing is we were awful about returning rented movies and sometimes paid huge late fees. Now we keep one as long as we want in case we want to watch it again.  We just got Date Night in today and we're watching it tonight.  We have turned "movie night" into the highlight of our days.
We watch the online stuff on our pc but do plan to get a WII since we wanted one anyway and so that we can watch everything on our large screen t.v.
We haven't missed regular televison one bit and certainly don't miss the $80 monthly bill.
I highly recommend Netflix and there's really no reason to pay for more than the one movie at a time rate since, at least in our case, there's only one day in between mailing it out and getting the next one in and we live in little one stop sign town in the middle of nowhere and nothing.  I really don't know how they do it.