Has anyone tried both of these and which did you prefer?  I want to get all of my TV from the internet now instead of cable, but don't want to buy both subscriptions.   

I prefer hulu honestly.  I liked netflix when I had it but I watched everything I wanted to watch.  I think hulu has more variety. 

My wife and I use Netflix and have for a couple of years. We enjoy its selection of tv shows in particular. I tried using Hulu but the episode selections are pretty poor. If you want to catch the episode you missed last week or the maybe a couple of weeks earlier it is great. If you want to be able to watch an entire series I have found Hulu is lacking while Netflix has it. For example I have watched the entire Battlestar Galactica series (they have the original one too), King of the Hill, Futurama, Family Guy, American Dad, Battle 360, Greatest Tank Battles, Future Weapons, Bones, Burn Notice, and on and on. So Netflix is pretty good. Try it for a bit and see what you think. By the way, we do not use the DVD option for Netflix so it does not cost a whole lot for us.