I'm pretty sure that there is a direct correlation between the time I started really growing as a developer and the time I stopped subscribing to television. Since then I've been able to spend a lot more time on projects, coding and reading. I remember when working on projects before that time. I always seemed to not have enough hours in the day to work on them. I still feel that way, but I'm actually putting in way more time than I was before I was TV-less.
There are times when I wish I had cable television, but they're far and few between. Most shows I watch, I can catch online with a day or two of their airing. Sports on TV are the only times I miss my idiot box.
I think it takes a lot of discipline to really try to improve as a software developer. By freeing yourself from "time-sucks", you'll be able to spend more time improving your craft. What are some other time wasters that people could consider removing from their life?