To each their own. I certainly wouldn't pay for something I didn't like.
I however am quite a fan. They are really really good as far as TV shows go. They have nearly everthing old and new that I watch now days. At least the ones on dvd. That's the only downside of Netflix. they don't have 'current' streaming episodes... but that's not how they were built. It was always a case of 'rent a dvd'... to eventually watch that dvd online.
I don't find it to be 'perfect' or self-sustaining... but for $7 a month it goes great with the DVD collection I already have.
The other one I would recommend would be Hulu. I just started that in October, and it DOES get the weekly shows I watch (except CBS... I have to watch from cbs' site to watch those...) Grand total I pay for TV is $16 with the both of them. Compared to the $100 my parents pay, there really isn't any bonus at all to watching 'regular' tv.
Unless your a sports fan. Or enjoy the news... I am NOT, so I haven't had to worry about missing a big game or anything.