This is one of the rare incidences where my man-logic worked with the wife. I'm still in shock over it.
We pay through the nose for tv, almost $90 a month after the recent price hike = $1000/year. I frankly can live without tv, except I need football, but my wife is a TV buff, and needs plenty of shows to watch. So we have been chained to our TV service for a while now.
My only current gen system is a Wii. I wanted a new console, but we are cutting back on our spending. Yesterday, I simply pointed out that we could cut the cost we pay for tv in half by cancelling our service and buying a new game console and a subscription to netflix and/or hulu plus, and just download the couple tv shows we watch that cant get on there. A few hours later, we were in the store buying a PS3. I can't believe that actually worked.

We got a
deal from Kmart of all places - 160GB Call of Duty Black Ops Bundle with $50 Kmart/Sears gift card, Uncharted 2 and God of War 3 for $300. Throw in a year of both netflix and Hulu plus, and it still comes in under $500/year.
I some questions though:
Does anyone know if Hulu Plus is actually worth it? I used to have netflix, and the tv show selection was still a bit lame. Is it worth getting both Hulu and netflix at the same time? I see there is a module for Netflix on my PS3, but I don't see anything for Hulu, can that be added?
Also, I need (american) football, I will go to sports bars if needed, but is there any online service to watch NFL games? Also, since i will probably get a HD antenna for my tv for local stations, is there a website that tells what local channels I can expect to get via antenna? My search-fu is lacking on finding anything.
I never used the media center before, if we download videos on the computer, we can just play them on the PS3 through our wireless network, is that correct?
What is the hackability of a brand new fully updated PS3? I want to know if it is worth hacking.