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PS+ isn't as big a deal as XBLive for a few reasons......
-Its MS's fault in the first place that its become precedent in the first place. Pressure from share holders at Sony are the biggest reason they added the fee after watching MS get away with it for a generation.
-PS+ proved its worth way before they made it mandatory for online gaming. PS+ gives you a constant onslaught of high profile games, really good discounts every month, Cloud saves service, works across multiple devices(PSP/PS3/PS4/Vita) for just one price, automatic updates, and soon Gakai Streaming. Most of these are actual services that Sony provides, not them milking you for things that cost them very little. Xbox Live "better servers" stance is a joke.
-PS+ is still 10 bucks cheaper a year, and doesn't lock off Apps like Netflix behind the paywall which is just wrong.

PS+ is the most value driven service around at the moment.
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Greatness Awaits

PSN:Forevercloud (looking for Soul Sacrifice Partners!!!)