Having spent almost ten years using it, I can say that I would find my life a lot more difficult without it, in many ways because in my life and work I need to find out information, and often there is no other way that information could be found at that time, or in time, than by using the net. Also as I spend so much time away from family & friends it is my most important means of communication. I can handle banking online regardless of where I am, I can buy things and have them sent wherever I want, I learned to type form chatting to people years ago.
For me it is truly a tool of life, I cart a laptop with me whenever I am away, and so wherever I plug in I can take care of things securely, without that computer and net access, it would cost a fortune in calls and heaven knows how much time. Ultimately without the net I would have to do less of the things I do, and in many ways my life is structued around the fact that I will be able to get online at some point. It saves money as well, a lot of money, simple things like driving to the bank to arrange something, I can do online, paying for postage of letters or phone calls or faxes. I can do it all online quicker and easier. Dumping a girlfriend... You got it !
All this being said I do not think the internet knows everything, and I think it is fully loaded with bullshit and blog wisdom, so I'm cautious about internet facts, I usually only trust a source I can verify offline, but it's good for instant gratification of general questions as well as being a very versatile functional tool.