The debate between cable and satellite is a fierce one. I once had cable, went to DirecTV and was quite pleased with the differences. After I moved, I didn't decide to buy into DirecTV again b/c cable is already in the existing place I'm at and my association fees already pay for it. Getting DirecTV would be an additional cost over my existing cable TV price, so I didn't really want to foot it (especially since I'm paying a mortgage now).
The main difference between the two are the features you get at the $40 level. With DirecTV you are pretty much required to sign up for a year and you have to foot the bill on some portion of the install (even if you get credit for it later). With cable, the installation is usually free and no additional hardware would be necessary (unless you want digital cable).
If I had the extra cash, I'd get my DTV again, but until then, I am with cable and no real plans on changing. With the amount of TV I hardly watch, the additional $40/month isn't worth it for me.
vash