There are more choices than ever for folks who like to watch TV but hate to pay that big cable bill every month. The latest offering for cord cutters comes from Hulu, which just launched its long-promised live TV service.\nFor $40 a month, you get access to more than 50 live channels plus Hulu\u2019s extensive library of movies and TV shows. The offering is akin to conventional cable, but the bundle is \u201cskinny,\u201d you don\u2019t have to sign a contract, and it can be streamed on a variety of devices.\nUnlike rivals Netflix and Amazon Prime, Hulu Live offers a combination of content that, as the name implies, includes live channels, not just archived content. Subscribers can view programming from the four major broadcast networks, ABC, CBS, FOX and NBC, with local live broadcast affiliate programming available in many markets. There\u2019s also access to 21st Century Fox, The Walt Disney Company, NBCUniversal, Turner Networks, A+E Networks and Scripps Networks Interactive. HBO doesn\u2019t appear to be an option, but Showtime is available for an additional $9 a month.\nSports is generally an area where streaming services fall down, but Hulu Live does fairly well on that score offering CBS Sports, ESPN, Fox Sports, NBC Sports and TNT, as well as regional sports networks available in many markets.\nOne of the features I like about conventional cable and satellite TV packages is the option to use a DVR. Without it, you feel like you\u2019re back in the broadcast TV days and have to run home to catch a favorite program.\nHulu Live\u2019s \u201cenhanced cloud DVR\u201d allows you to record multiple programs at the same time and store up to 200 hours of programming in its cloud. And if you hate commercials -- and who doesn't -- you\u2019ll be able to fast forward through them. However, the DVR service is pricey: $14.99 a month.\n[Related: -->Hulu humiliates Apple with Live TV app]\nIf you choose that option, you\u2019ll be paying about $60 a month, which is in the same price range as a low-end conventional pay TV package.\nThere\u2019s another downside as well. Hulu says the service is in beta at the moment. It\u2019s unclear what that actually means, but I suspect that Hulu Live, like other new streaming services, will have some technical glitches at first. So calling it \u201cbeta\u201d kind of covers the corporate butt.\nAlso, two of the most popular streaming devices \u2013 the Roku box, and the Samsung Smart TV \u2013 are not supported. Hulu says that will change \u201csoon,\u201d but for now, that\u2019s a major problem for many consumers. , Hulu Live is currently supported on Apple TV (4th Gen.), Xbox One, iOS and Android mobile devices and Chromecast.\nI think Hulu Live will be a good option for cord cutters, but I\u2019d advise waiting a bit. Let\u2019s see how well the service actually performs and how long it takes to chase out the inevitable bugs.\nFinally, it\u2019s becoming clear that the astute cord cutter can easily put together a great home entertainment package. Major choices include, Sling TV, Netflix, and Amazon Prime, along with Hulu Live, and there are other, less prominent services out there as well. However, it\u2019s also becoming clear that putting together your own bundle can quickly get as expensive as the conventional pay TV package you want to leave behind.\nAnd don\u2019t forget, a typical pay TV package often includes a break on Internet service when you bundle it with television and sometimes landline service. You won\u2019t get that once you\u2019ve cut the cord, and some ISPs have imposed data caps.\nCord cutting is increasingly attractive, but the freedom to build your own bundle means you need to shop carefully.