Does free pay?

Getting much coverage on the interweb over the last 24 hours is The New York Times decision to drop its subscription service. It has to make sense, revenue from ads, more eyeballs on your site etc. I wonder will the Irish Times follow suit?
It would be interesting to see if the advertising revenue turns out to be more than the money they get from subs. I'm sure this information will come out in the future. Personally I don't think I would ever pay to subscribe to a site. There is so much information on the web for free, why should I pay. Take iFoods.tv for example, its basically a social network for foodies, I should be all over it, logging in every day, however its a subscription service so I haven't even given it a second thought. Am I the only one who feels this way?