Talking about equipment, cable does not need any unless you want digital video recording. Satellite needs an unobstructed view of the southern sky to receive signals, what is called "line-of-sight". The satellite dish must be mounted where it won't be damaged by high winds. With satellite you have to have a receiver for each room that has TV. The first receiver is free and then there is a small fee for each additional one.
Both Cable and Satellite TV offer plans for extensive stations and packages for different channels. Satellite, however, offers both East and West coast feeds, so you can receive options of watching some shows at different times; for sports fans, this may be important. All Satellite coverage is digital, and it offers more High Definition stations as compared to a Cable TV.
Both Cable and Satellite TV offer bundle services by pairing up with other communication companies. You can get a bundle of land phone, DSL internet, and Satellite TV. Check out what is offered in your area.
Cable or Satellite TV can be more expensive than the other, depending on what you order.
Satellite does not have the additional taxes and service charges, but it charges a fee for additional receivers. Cable does offer low priced packages for minimal stations, but charges more for digital quality. Some Satellite services may charge for local stations.
You may pay more for Cable to receive 100+ stations; whereas, Satellite packages usually start with 150+ stations.
The bottom line is that the cable will probably be slightly more expensive; recent prices have been moving upward. With Satellite, you may lose the signal during a heavy rain storm.
Check what is available in your area. Check out the bundle services being offered with other communication services such as internet and telephone. Decide what you want for extras: movie stations? DVR? Tivo? High Definition? Sports stations? Once you know what you want, the decision should be easy.