There are drawbacks, most having to do with content licensing restrictions. Netflix still has a good number of films in its vast library that are unavailable for streaming. With Hulu Plus, TV shows are generally embargoed until at least the day after their original network air dates. And there can also be restrictions on which seasons of a show are available. Perhaps most frustrating, licensing terms for some shows stipulate that while they can be watched on a computer or mobile device for free on Hulu's website, they are prohibited from being viewed on the TV even with a paid Hulu Plus subscription. But remember, an antenna gets you free OTA network channels, so if you're able to work your schedule around the networks' (like in the old days) you can minimize this inconvenience.
One of the streaming services I would suggest you look into if you’re a fan of shows like The Big Bang Theory or NCIS would be CBS All Access for $6 per month. This provides you with streaming access to the network along with on-demand access to all of their shows. So you know, the CBS link here is an affiliate link, but only because I honestly think it’s a good option for cord cutters.
A revolution has begun. Fed up with high prices, endless fees and taxes, and programming packages with 40 channels you don’t want for every one that you do, cable and satellite customers across the U.S. are kicking service providers to the curb by cutting the cord and sourcing their TV programming elsewhere. It’s easier than you may think, and you don’t have to give up much in the process. Here’s a series of guides to help you cut the cord and start saving money now.
There’s an episode of “The Glenn Campbell Goodtime Hour”, featuring a performance by Stevie Wonder that you can find around 5 min. and 50 seconds in. Just about every episode of “Soul!” has great performances by talents like Al Green and conversations with James Baldwin. His thoughts about race relations are as relevant today as they were back in the ’60s.
The question of "when does it make sense?" can easily be rephrased as "how much money can I save?" and one of the biggest factors will be the price difference between combined internet and TV service or just internet. These are also the options that vary the most widely based on where you live, and the availability of promotions or contracts that can keep prices down for a short time.