Well, you could host a few relatively small sites, but definitely not anything huge. T1's aren't exactly cost effective when compared to just leasing a server with a 100meg port vs. the 1.5meg you'll get from a full T1.
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You need to compare the service you're getting, level of support and management, and *location* to which you're getting it. Bandwidth to a datacenter will obviously be cheaper than to an office in the middle of cornfields.
T1's are used by businesses for their reliability, how quickly issues are resolved, etc. because otherwise the cheapest option is to go with DSL, Cable, etc.
Ankit Gupta - Cernax Hosting
"We're always second in the industry, the customer comes first."
Our building is wired as a telco hotel but operates as office space for private companies, law firms, architects and other professionals. The company I work for pays at cost for bandwidth for their local network.
You'd never want to put a business connection on cable, regardless of price or speed. Its not a substitute for a dedicated line in any sense.