I would also like to agree with the posters who suggested keeping the high speed internet, but getting rid of cable. Why pay for channels that you don't watch? Netflix/Blockbuster, Hulu, Youtube, and TV over the air should be more than enough.
Might I also suggest building a Home Theater PC. You can build one for about $600. You can then buy an HDHomerun, which is a devise that will allow you to record your "over the air" channels in HD onto your computer. Hookup your PC to your tv, via hdmi, and you won't need to pay for Hulu Plus; you'll be able to watch regular Hulu for free, on your tv. You can also watch Netflix Instant Streaming through your pc; so you won't need to buy a Roku.
If you own a newer Blu-Ray player, you may already have the ability to watch Netflix Instant Streaming through it.
If you're interested in building a Home Theater PC, go visit avsforum and click on "Home Theater PC," on the left side of the page. You'll find 2 stickied threads at the top, detailing how to build a Home Theater PC; and some threads on different software settups, to get the most use out of your pc.