Have done it (happen to be doing it now but just because I haven't come across what's going to be my next cage)

It definately has its drawbacks but it can be done. I did it at school and there was always a cage I could borrow when I needed it. (groceries, parts, extra people, ect.ect.)

I prefer to have both but given the option between the two the bike wins hands down.

 

Summer before last - I was on the bike for 5 months solid - best 5 months I ever had
and that's because my wife blew the motor on her car ....so naturally she kicked me
outta mine and told me ..........."go ride your bike" biker boy !

All I can say is .......DO IT if you can make it work.

Wish I could permanently but ....... family stuff means I need 4 wheels for softball,
basketball soccer practices and all that kiddie stuff

 

I've just had a bike. There are a lot of benefits, not having to pay upkeep for 2 vehicles, you get very serious about what to buy at the supermarket so you save money to.
Because its your only transport, you ride it in all weather conditions, you get to stage that rain or cold just means a change of riding gear & your out the door.
Only real downside is that hack bikes end up performing & looking like hack bikes & rather than being something you look forward to on the week end, you can get pretty blase about riding.

 

I've been bike only a few times, for years at a time, and didn't mind it. Like jp_greenville said you can usually bum a ride from someone if you absolutely have to use a car. I was actually bicycle only for a couple of years when my driving privileges were revoked a few years ago, so it can be done. Spent one winter in Maryland, motorcycle only, but had friends w/ cars.
Now I live in Florida so winter riding is sometimes a little chilly but not dangerous due to weather. For the most part I'm bike only now except my wife has a car so it's there if needed. I don't use it unless I need to carry something that just isn't feasible with my bike.
I'd say go for it. Just make sure you save enough to get a beater cage before next winter. Riding in the snow and on ice covered roads is extremely dangerous.