I don't watch TV here in my apartment, but I still have their absolute basic service (network channels [Fox, ABC, NBC, PBS] and a couple of extras like the History channel that they throw into that package for about $10 a month) just in case I need to entertain someone or want to watch the news while I eat breakfast. I haven't used my TV other than watching a handful of movies since the beginning of December, but once Bones comes back on the air on Friday I might be making it a weekly thing again.
I can understand your desire to get rid of cable, though! Sometimes I wish my parents would, but my mom loves watching the Food network so that won't happen anytime soon.
Good luck with the decision and make good use of the extra money!