I've been a PS Vue subscriber for about a year now. While there's a lot to like in the service, there are some drawbacks not mentioned in this review.
First, like many millions of people, I have a PS3 and not a PS4. I find that using fast forward/rewind through a show can lock up my PS3 and require a hard reboot. I've even had it lock up overnight when I wasn't even using it. I suspect Sony is aware of this issue (I've sent perhaps fifty missives to Sony when I've needed to restart my PS3), but they have no interest in fixing a problem on a platform they no longer care about. If you're like me and skip commercials whenever possible, this problem can quickly become very annoying. I've had my PS3 lock up as many as two or three times in a single day.
Another FF/Rew annoyance is that the PS3 will often not respond to these requests when in the middle of advertising. If I hit x16 or x32 at the end of a show segment before the commercials, it usually speeds through the entire break. I haven't encountered this issue the same way on my Android devices, but navigating though shows with those is usually pretty difficult. It's hard to hit a particular target in the time line. I'd love to see services like these let me jump to a timestamp, but I'm betting advertisers put the kibosh on that feature.
Third, the service only uses Dolby 2.0 audio. There are no 5.1 streams as far as I can tell. This is absolutely absurd with modern streaming technologies. Services like Netflix are in 5.1, why not PS Vue? It's a big let-down for someone like me with a nice five-channel audio system that provided excellent surround on programming carried over-the-air or on cable. I think this reflects a more fundamental problem -- Sony has not allocated enough bandwidth and servers to the platform. PS Vue has grown pretty quickly, and I don't think Sony has made the investments required to keep up.
The video quality on the PS3 seems a bit "soft." I find that streaming Vue from my Android phone to a Chromecast device provides a sharper image with better color than using the PS3. I also believe the service only runs at 720p, not 1080i like over-the-air HDTV, or even better 1080p.
Finally, I need to correct the notion that the FOX and ABC network programming is carried on the service. Neither of those networks lets Sony offer a live stream, unlike they do for CBS and NBC, but only programming on-demand. That means live events on those networks like sports cannot be watched or recorded on Vue. I have an antenna connected to my television so I can watch those networks over-the-air, but no means to record those programs.
The good things? Well, I can get all the channels I want to watch for $35/month and record them with the DVR service. Like this reviewer, I hardly ever watch anything live. I can get up to five simultaneous streams so I can watch programs on my Android phone or a PC when I'm away from home, but be aware that some programs are "mobile restricted" and can only be watched at home. (Again it's sports programming that seems to apply this restriction most often.)
I've looked at the competitors and their lack of a DVR service makes them a non-starter for me. If Sling gets its DVR service out of beta, I might give that a look.