I second the warning on cycling.tv. A worthwhile service for those of us in North America who can't always catch races live because they're early in the AM, but they've got some bugs.
If you look at their schedule, a number of races are 'TBC' - to be confirmed, such as Pais Vasco, Eneco, Plouay... not major ones, but still, they pulled the 'TBC' on Tirreno-Adriatico and said at the start of the week 'okay we're not showing it'. Also, last year they advertised full coverage of the Giro but then didn't broadcast Sunday stages because VS. had the rights in the US (which didn't help us Canadians any). And the Tour is right out of the question.
Also, their customer service is the worst I've ever seen with any company I've had anything to do with, in my life. I am not exaggerating.
But it is quite extensive, year-round coverage, and for cycling junkies it's worthwhile enough.