This just makes me appreciate Netflix even more. I won’t be signing up for Hulu Plus(for now). I’m disappointed there are still ads and support for the Xbox 360 isn’t coming until “early 2011.” I have a PS3 and support is coming soon for it, but that’s guaranteed to be a disc. The experience of loading a disc pales in comparison to the integrated experience of having it baked into the system (i.e. Netflix on Xbox 360 versus PS3). Read more here.

Also, I agree with this point from Engadget’s hands-on:

The bottom line is that while we doubt Hulu Plus will really spur the cord cutting that many think it might, but it will be a great supplemental source of content for those who can’t get enough TV.

For me, Hulu (and Hulu Plus) is not yet a replacement for normal broadcast television. But I look forward to the day when services like it are.

Update: Straight from Hulu CEO Jason Kilar via CNET.

I don’t see this as a substitute for cable or satellite service. It’s not a product that can serve that need.