Hi mathluv - I am in the same situation as you. My 401k will be worth about enough to buy an annuity that would actually be a little better than SS. However, I could not live on just that 401k-funded annuity. I need the SS money as well. I am arguing in favor of having both a 401k and SS, which I think the vast majority of people on this board plan on and need. That requires saving SS for us, and for everyone else who follows us.
I would not want to try to live without both. I could survive, but that is about it. Right now, I can do a little to help my daughter and her kids. My son has a good job, and does not need my help - yet.