We chose to eliminate watching TV on a daily basis about 3 weeks ago. It's been the right decision for us. I personally found that once the TV was on it became a slippery slope of just 30 minutes would over time morph into two hours :( The book Simplicity Parenting was what ultimately pushed me into this new TV free life. It was an idea that I had toyed with for years and now that our youngest is three years old, I was ready to finally implement. In just these initial days I have seen far more reading, art and inventions of new games outdoors. I also would recommend that before you pull the plug you have an arsenal of activities on hand to occupy your children. I went to Michael's and stocked our art supplies. The first three days are the toughest and then it's pretty smooth sailing. I think it's actually been hardest on me. TV was my parenting crutch and it's one that has been hard to let go.
In lieu of a daily TV habit, we have Sunday Movie Morning. Right now we are working through a newly acquired selection of IMAX movies on DVD. We watched the new Born to be Wild movie today -- highly recommend! We are actually supporters of the David Sheldrick Wildlife Trust. We adopted an elephant from this trust for Mr. Rolo's 5th birthday since he is such an elephant lover.