I have been reading the Wall Street Journal pretty much every day since I was in high school (yes, I was that nerdy--in that, and so many other ways, too). I disagree with Joe Nocera that the paper has deteriorated badly--it still has many terrific reporters. The team that works on mortgage finance, including Nick Timiraos and Bob Haggerty, is better informed than their counterparts at other papers.
On the other hand, after more than 30 years, the Journal has ceased to be a daily must read for me now. The Wall Street Journal once would have attacked the News Corporation scandal as fiercely as it attacked the Orange County bankruptcy story and the Enron and Worldcom stories.
More important, the Murduchs have proven themselves even more eggregious than I expected. Unlike last time, when David Wessel flattered me into renewing my subscription, I won't do so anymore. The FT will have to go it alone.