I think it depends largely on your market. Here where I am now, the satellite providers save a net of about $8 a month over comparable cable.
Picture quality is debatable as it depends on way too many things to be a simple black-and-white answer. Price depends on a lot of things as well - not only your local market (and your cable choices) but what you get as well. Getting a stripped-down package might be cheaper on one and a more comprehensive package might be cheaper on the other.
I do agree that satellite TV is an excellent option for people who can't get cable.