I don't update anymore; what's my prognosis?

I've decided to ignore all updates from now on. I'm on iOS 5, Snow Leopard, Airport Extreme with 2 Express routers (one 'n' and one 'g' for music). I'm off of MobileMe (except for email), and have decided to forego iCloud.
I've learned from experience with many Macs that, every time I do a software update, the computer uses more memory, the battery doesn't last as long, performance slows, apps no longer work, miscellaneous pesky problems crop up. I used my PowerBook for 6 years. The only reason I replaced it was because, frankly, Flash killed it. I was still using OS 7 apps, and perfectly happy with them. Now I hear lots of complaints about Lion (look at the unusually high percentage of 1-star reviews on the App Store, so it seems like deja-vu. Skype on the iPhone is another good example of a downward spiral of qualtity with each update.
Summary:
I will not longer update anything. Software updates are stacking up; I ignore them.
My MacBook Air (late 2010) is snappy fast, everything works, battery life is excellent, it boots in 15 seconds.
iOS 5 works fine, but I'm also ignoring any update intended for Lion and iCloud compatibility.
My wireless network works great. I never have to reboot.
Most importantly, I have over a dozen PowerPC apps that require Rosetta. They all work. Ahhh, nice.
I manually sync my contacts and calendar with a USB cable.
In other words, I'm happy. HOWEVER, here's my question:
How long can I "live in the past" like this? Besides the (remote) possibility that I might be vulnerable without doing security updates, what is the downside to this strategy?
I hear both good things and bad things about Lion and iCloud. The good things I don't seem to care about; the bad things are things I would find deal breakers. Am I being a Luddite for not moving to Lion, and iCloud? I'm not a "sharer" of photos and music between devices, I have other apps that sync what I need, I don't buy iBooks, I don't buy music on iTunes, I don't use Twitter. What''s going to "break" first, in your opinion?

I think in previous incarnations, people would have jumped all over you for your approach, but the Lion operating has generated decidely mixed or even negative reviews from users. So no one seems to disagree with you. I think many folks are simply staying with 10.6 and waiting to see if OS 10.8 is better than 10.7.  I've mostly avoided upgrading OS's, or when I do I jump over one version completely because I've waited long enough that I'm two versions behind. 
Here are the things that will/would motivate me to update the OS:
* incompatibility with MS-Office (I'm not a MS-Office fan but I do need to use it)
* incompatibility with flash or other tools needed to view modern web content (this might be a while as I am still using several different Macs, the oldest being a 2005 PPC iMac with 10.5.8 and an fairly old/outdated flash, but it seems to still do ok with most web content). Our 2008 Intel Core 2 Duo iMac runs 10.6.8 and can do just about anything we need -- like you, I decided not to go to Lion because it didn't look like much of an improvement.
* incompatibility with various commercial software, such as TurboTax, or with web sites I use to manage financial accounts and such things
We got my daughter a new Macbook Air just before she started college, and Lion plus a new Macbook Air model came out a month later. I am glad now about it actually, I think some of the Lion "issues" would have annoyed her greatly (especially the odd dropping of wireless access points under Lion, everyone is on wireless at colleges now). I'm hoping that the 10.8 OS will be better than Lion. We had (probably still have) a certificate for a free Lion upgrade but we decided not to use it.

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