We had started with cable, then switched to satellite because our cable didn't carry a lot of channels we wanted (eg, Learning Channel, History Channel). Now I'm back with cable, which has most of the channels we wanted back then, but it requires me to pay extra for some of the channels that were included in our satellite package, such as the independent film channel (in neither case did we subscribe to movie channels -- with satellite because my wife was too cheap and now because I'm just not home enough). Of course, that situation will differ depending on what your local cable service is like.
One big difference is that you'll be watching TV in a different time zone. Most satellite channels are on Eastern Standard Time, which is different from where you're viewing them. For example, there were some shows that I would have liked to watch that were scheduled for 7PM, but being on the west coast they were actually shown at 4PM, while I was still at work (trying to tape them was not an option at that time). Now, most satellite channels' 3-hour prime-time is broadcast twice, so this is not a problem for prime-time shows, except that when you read the local paper's TV listings, you need to perform the mental calculation of converting the listing's time to the actual time that you'll receive it (eg, a show listed for 7PM you would actually view at 6PM (you are in Central time, aren't you?). But that 7PM show I wanted to watch was only one once per day, so I was simply SOL.
As far as I know, cable does the time-zone conversion for you, showing the programming at the times given in your local listings.
Unless things have changed, you don't get local channels as part of the basic service, but rather must pay soemting like $5 extra. Even then, you'd be getting the local channels of the nearest metropolitan area (no problem for you nor me, but I suspect it would be in more remote areas, like North Dakota). But on the plus side (as I found during their "try it for a month for free" deals), you get all the local channels (well, very nearly all) with excellent reception that you could never get off the antenna, including some that you just plain could never have pulled in.
A minor down-side is that you won't get local weather conditions on The Weather Channel. You also won't get local commercials (I've noticed on the cable channels that cable would replace the channel's commercials with commercials for local businesses.
With cable, we had a wiring problem that caused reception to degrade and even go out when it rained hard. Not with satellite, but I found that over time we had increasing reception problems during real heavy rain (I'm talking down-pours). It finally just gave out completely just a couple days before I left; no idea what she's done about it. Other than that, the satellite system had been trouble-free for several years compared to one or two cable outages per year. But then that was just our situation. Also, we owned our satellite equipment (I think that's the normal arrangement), so if anything breaks we needed to have it repaired or replaced.