Main problem is lack or recording ability. I could be wrong (so double-check) but whenever I cancel Sky they always want £10/month just for Sky+. It’s the best recording facility available, but for £120 every year, you may be better off looking for alternatives.
The freesat signal is from the same satellite as sky so if you have an existing dish you can use that and buy a freesat box to record if you want to record. You need two cables running from the dish for recording though.
Freesat doesn’t really offer much that you don’t already get from Freeview, and even though both Freesat and UKTV (Dave, Yesterday, etc) are both consortiums with BBC in the driving seat Freesat doesn’t carry the UKTV channel for some reason. Its a usable alternative to free view if you don’t have a decent reception for terestrial though.