My main reason for not giving up cable was so that we could watch our beloved basketball team (OKC Thunder). My husband and I watch every game, sometimes with the kids, and sometimes we wait until they're in bed. Neither of us watch a single other thing on TV, and so we considered nixing it and going the bar route, but neither of us are drinkers, we'd feel obligated to buy something to eat or drink, and that adds up fast with 3-4 games a week. We are also able to use cable as a tax write off, though I don't care about that as much as basketball.
I spent about six months agonizing over how un-mustachian we were being, but then realized that basketball is something that we really value, we love spending that time together, and our entertainment budget is otherwise non-existent.
I'm half-rooting for the Cavs, because my guy Perkins is there now, but it's hard to hate the Warriors.