One thing that would be a deal breaker for me is that with some content, you have to have a subscription TV provider and you have to validate with Hulu by logging into your account at that subscription TV provider. I had no idea that NBC Universal was a part owner in Hulu, and this explains why I was unable to watch some shows that were on USA this season - as those shows required that you have a subscription TV provider.
So in this press release, no mention is made as to whether you will have to have Cablevision as your TV provider in order to access their content. If so, I will do like I am doing with the content from Hulu that I could not watch - waiting until it is available for free elsewhere.
As long as Hulu has a "subscription TV provider" account requirement for some content, I do not think this is going to be as big as it could be in the marketplace. Personally, I see such a requirement as extortion to maintain a "traditional Pay TV account." At this point, I only have Hulu because I get it free using Bing points; however, I am beginning to wonder whether those points might be spent better elsewhere.