I dropped cable years ago when they wanted to raise the price 20 bucks for basic cable. It's worse now seeing you have to rent boxes and such. I would suggest you research Roku, Apple TV and Google TV boxes, they connect like a DVD player would. You buy the boxes and then can watch Youtube, Netflix and a ton of other channels. There is no monthly fee for the box but the channel service like Netflix does cost a monthly fee. I went with the Roku, I've had it for maybe 3 years and it has been rock solid. They update it often and add features. You can get one for $40 or so. If your TV is digital you can also get free local digital channels depending on your area. That is how I watched the superbowl.
I know on the Roku you can setup tons of free channels but there are limitations. There are multiple food channels, PBS, the History Channel, music on Pandora plus many more but they only show what they want to allow. Often the popular shows are not on the free channels. A decent internet connection is needed.
Then there are the paid services like Amazon, Netflix etc. I have Netflix and like it but it doesn't have everything. They make deals with channels to play some shows. An example would be TopGear, they have tons of episodes on there but you won't see the 2014/2015 season on there until at least the fall of 2015 when the new season starts. This doesn't bother me any because there is so many other shows to watch on it. The best part is no commercials. Once you get used to this and then watch something with commercials it's awful.
So, with a mix of technology you can get off the expensive stuff. Below is my best effort on how the chain of equipment works.
Digital TV --- over air local digital programming
................\- DVD player
.................\- Roku, AppleTV etc
............................\- Add free channel like PBS, Youtube, EWTN, A&E, Crackle & History
.............................\- Add pay channel like Netflix & Amazon
...........................................\- Pick from a ton of shows and movies but they are often last season and older. Like Dr Who, Modern Marvel, TopGear, Mash, Cops and 1000's more.