Well, I'm cheap, there's no arguing that, but it's only part of the reason I can't do satellite. The two more important aspects are related to performance and ideology (maybe that's not the perfect word -- something more encompassing morality might be better).
The performance problem is a somewhat tricky thing to describe, but I'll try. The article Cary linked to only touched briefly on some of the factors involved. Latency is really the biggest performance downside to the system, but the way it factors in doesn't directly correlate with the way things "normally" work. There are really two components to the latency issue here.
Latency is "normally" a function of the bandwidth available (the amount of data which <i>can</i> be trafficked in a given time in this context). In this aspect, the satellite systems are indeed broadband (high bandwidth) so they should exhibit low latency.
But the distance the data has to travel at roughly the speed of light is extremely disproportionate and that's where normal comparison fails. A fiber optic or wire cable encircling the earth would be approximately 8,000 miles in length. Geosynchronous orbit for a satellite is approximately 24,000 miles from the earth. A signal could travel 6 times around the earth on the cable before it could make one round trip to the satellite, excluding the delays incurred at the routing points along the cable. (don't forget that the data in a satellite communication must still travel along the earth-bound cabling system between its two bounces to the satellite). Make that 12 times around the earth since the satellite communication must make another full bounce to complete the round trip.
This massive time delay creates a really awkward condition. Ever talk to someone over the phone, or watched a news anchor interact with a remote reporter, via a satellite connection? How about being within ear-shot of two televisions tuned to the same program with one being on satellite and the other "conventional"? In those cases, the delay in transmission is quite obvious.
The extra delay really wreaks havoc with the way computers "talk" to each other over the network.
The satellite systems use methods of altering the traffic patterns in order to somewhat alleviate the "worst" symptoms of the high latency. The mechanism works admirably for such things as fetching large files, but they merely compound the problem for highly interactive tasks. It's a maddening situation.
If you're accustomed to reading large web pages with large amounts of large graphics, a satellite connection would certainly be more pleasing to you than a telephone dial-up. If what you do is more along the lines of just text and "reasonable" size, the phone connection might be more satisfactory in the long run. And it might just be that, even with a low-latency ISDN connection at the same 56k as a dialup, that you'd be happiest overall. (the dialup also has a disproportionate latency problem) Low latency by itself is much funner than high bandwidth by <i>itself</i>.
The satellite systems have historically required some sort of Microsoft Windows computer to perform the traffic alteration, without which the system does not work. Now we're touching on the ideological (morality/safety/security/privacy/cost) issues, and I'm sure you don't want me to go there...
Glen