We're like you were--we have a TV, but it's not hooked up to anything. We only use it for watching movies.
Netflicks, baby! All the way!
Also, you can download stuff off of iTunes, and a lot of the major cable channels have some means for you to watch their most popular shows.
We've been tv free on and off for the last 15 years. We often get cable in July for the Tour de France, and then we shut it off again. It's not about saving money for us, though having no cable most of the year saves a little. It's just that there isn't anything we REALLY want to watch. Like, our lives go on, they are just as fulfilled without TV.
Go without cable for a while, and then watch some of the shows. They are so boring! I find most of them simply insulting to my intelligence. I didn't feel that way when I watched tv all the time...I'm not smarter now, just have a different perspective. It's like, when you step away from them, you can see how bad they really are.
ETA: we live in tornado alley. We can get all the info we want on the radio. If we hit the basement, we bring the laptop down, on battery backup so there isn't a problem with a power surge. If you are really concerned, get a weather radio. We can't hear the sirens if it gets windy, so we dont' consider them any sort of help at all.