I had been toying with cord cutting for a while, especially every month after seeing my $119 DirecTV bill when I just don't watch enough to justify. I tried the YTTV week trial and liked it enough to immediately cancel DTV. It's not perfect, but for the difference in price, easily worth it. The acid test for me was watching the NFL playoffs and college football championships last weekend. They were just fine.
Things I like - video quality is quite good, has all the channels I like except for the History channel, it's cheap, unlimited cloud storage and the native app on my nVidia Shield works great.
Things I don't like - doesn't work well with my Harmony remote, no channel numbers so you have to scroll through all channels to get to what you want, no 5.1 as others mentioned, no Apple TV native app yet, can't fast forward through commercials in on demand shows.
I've had it for two weeks now and am shocked at how easy it was to move on from DirecTV.