Netflix streaming is good if you are way behind on TV shows. If you are relatively up to date there isn't as much to watch. The movie selection is pretty craptastic. I'd say its only marginally better than what you see on Comcast free OnDemand. The DVDs to your mailbox is still decent though and it saves driving to a Redbox. However you have to really be on top of new releases to get them. They don't show up under new releases for months. I've been checking Redbox for popular shows then searching Netflix to add them to my queue. It's stupid, I know, but Netflix likes to hide them among not-so-popular releases.
We still have Comcast cable and watch 2-3 hours of DVR'd shows from various channels most week nights. The list of shows we watch is pretty large. I'm sure a good portion is available on Hulu but I doubt all of them are. We also watch local sporting events, auto racing, and other stuff that I'm pretty sure isn't on Hulu. So I know it is expensive, but we use it and get the most out of it by fast forwarding all commercials. ...we do not, however, watch the news.