We have Hulu, Netflix, Amazon Instant, and a digital antennae. It's been a year since we cancelled cable (our small cable only Comcast bill was rising exponentially and was $200+/mo when we left) and we haven't missed it for a second. It's easy enough to grab HBOGo or Showtime for a month, after a season ends, to catch up.
With all of the above we're still saving nearly $200/mo. I thought it would be harder without cable but it's been totally fine. We can watch local stuff with the antennae or hit Redbox for a movie if we can't find it on any of the above. Seriously, cancelling Comcast was one of the happiest days of my life.