If I combine Hulu with Netflix can I drop my cable?

So the new about about Hulu Plus dropping their subscription to $7.99 per month is pretty awesome. Seeing as how Netflix is $8.99 per month that is a combined total of $16.98 per month. Could this mean with the prime TV shows you get on HULU both current seasons and archive seasons and then all the movies you get with Netflix that maybe just maybe I can drop my insanely overpriced cable bill?

(If you had to stop and grab a calculator to do that math kids please go grab a ruler, place your hand on a flat surface, use your other hand to slap yourself.)

I still would need to pay for Internet and surely if I drop the cable TV portion the Internet charge would be jacked up. Right? But maybe not necessarily, I mean if enough people made this switch then the big wig cable guys would have to change their plans wouldn’t they?

I can watch Hulu and Netflix on my TV, my gaming console and my mobile phone. Which means I can watch whatever I want, wherever I want, whenever I want for a pretty low price my friends and to me that’s pretty darn awesome.

I’d now like to hear from the peanut gallery. Comments please.