I would never do that to my members. If I joined a site like that I'd cancel in a heartbeat, and I've been in this business for about 7 years now. I know content costs alot of money to buy and produce and I know it sucks to waste bandwidth and get cancellations from the leeches, but I'd much rather waste some bandwidth on a few leeches than piss off ALL of my valuable recurring members. That's just my opinion, though. There are two sides to the story and I understand that.
