When we moved into our new (for us) house in January of this year, we made a decision to not have cable TV in our home. We do have a TV and use it to watch videos, but we do not watch any television shows, TV news, sports, etc. For about a week it was weird. After that, we realized that we don't miss TV at all. In fact, to quote McD's, we're "lovin' it!"
We do keep very up to date with what is going on in the world. We check the internet numerous times per day to stay on top of things.
I have put together a list of 10 increases and 10 decreases that have happened in our home since we got rid of cable TV. We're never going back.
increases time (for everything else)
increases conversation with family
increases conversation with friends
increases discussion of the things of the Lord
increases physical activity/exercise
increases parental supervision (we know what is on the videos our kids are watching)
increases family game-playing
increases personal and family devotions (from not staying up too late the night before)
decreases wasted time
decreases worldly influences
decreases secular worldviews in our home
decreases profanity in our home
decreases secular-slanted "news"
decreases staying up too late and feeling wretched the next day
decreases pointless eating and overall caloric intake
decreases having to dive for the remote when an adult-themed scene unexpectedly pops up on the TV screen
decreases pointless conversations with people who watch TV