I think a lot of people on this thread really don't understand what the $9.99 a month gets you.
For example, if you pay for the first year and then cancel. You STILL have Photoshop CC and Lightroom 5 Fully functional and operational. You're files are still able to be used 1 year, 2 years or 3 years from now with the same software. Just because you stop paying for it, doesn't mean it's going to stop working. It simple mes that you're not getting any updates. And the prices I looked at for PS CS6 when the Subscription came out was close to $1000 for PS. Even at $10 a month, it pays for itself if only for a year. PLUS you get Lightroom 5. I'm sorry, this is a no brainier of a deal IMO.
No you DONT get to continue using the programs.
From adobes website
Adobe Creative Cloud ? FAQ
"What happens if I decide to stop my membership?
You will continue to have access to free Creative Cloud member benefits, and if you saved your work to your computer you will continue to have access to those files. You will no longer have access to the Creative Cloud desktop applications or most of the services that are components of a Creative Cloud membership."
That said I have been a paid member of CC for a couple of years now and find it a wonderful way of getting the software I need. Adobe even let me cancel my previous subscription of $20 a month for just photoshop to take advantage of the $10 a month photoshop and Lightroom deal and they didn't even charge me the cancelation fee on the old subscription.