progrmr,
That's our setup also, w/ the exception of the X-Box..........we just got a PS-3........but otherwise the same. As you say, works great, Netflix is definitely a great deal for the $$$. We never had to go see (or rent) the latest releases, though. I find myself saving old concerts and westerns/mystery/comedy movies and watching them at my leisure, like this weekend (4 day weekend!). And Mrs. oldguy likes Hulu for the TV shows she's missed, although she hardly ever watches much TV. But it's there if she has time to catch up on a mystery or thriller.
We keep our cable for local news mostly........very few shows worth watching on television these days, just a few.
Guitars
Wilburn Versatare, '52 FrankenTele(Fender licensed parts), Fender USA Roadhouse Strat, Fender USA Standard B-bender Telecaster, Agile AL 3000 w/ WCR pickups, Ibanez MIJ V300 Acoustic, Squier Precision Bass,
Amps
Ceriatone Overtone Special, Musicman 212 Sixty-Five, Fender Blues Jr., Peavey Classic 30, Fender Super Reverb, Traynor YCV-40 WR Anniversary w/ matching 1x12 ext. cab, Epiphone SoCal 50w head w/ matching 4x12 cab (Lady Luck speakers), Avatar 2x12 semi-open back cab w/ Celestion speakers
Pedals
Digitech Bad Monkey, Digitech Jamman, DVM's ZYS, Goodrich volume pedal