I've stopped watching, for the most part. I cancelled my Sky sub in August, so I'm limited to crappy C4 coverage anyway, and in a couple of years I'll have nothing.
The trouble with F1 is that when it's good it's unbeatable, it's just that that doesn't happen very often. Maybe with the rule change next year, but I doubt it. It's like football: If it's on and I'm at a loose end I'll watch it, but I won't go out of my way to see it at all costs.