Xbox and Time Warner. Match made in heaven?

So everyone knows the Xbox one will have the ability to plug your cable box into it. However what about those that have a Xbox 360? Well today Xbox announced they are going to partner with Time Warner cable and allow you to stream "up to 300 of the most popular live TV channels." I know a lot of people have been ditching cable all together for solutions like Netflix and Hulu but for those that still have it this is nice if you want to have it in another room. The real question is if you ditch your cable box all together. The "rental" fee for having a cable box these days runs about $10-$12. Considering they are already taking your first born it might be nice to save a little bit. Do you guys still have cable TV?
Source: http://news.xbox.com/2013/06/ent-time-warner