I watched it when they first picked up WSBK a few years back, and it was good. Eurosport feed with no commercials.
That said, as soon as WSBK came out with a video pass I paid for it. The WSBK one isn't as developed as GP though. The GP one is so great, with so much content, that I don't even consider not getting it.
I did this too. It makes for good viewing in the garage with all my bike buddies on Sat. nights. The wives would rather have us there than out in a bar somewhere plus they like to watch sometimes too.
Just remember that WBSK is running the big boys Race 1 on Saturdays now with Race 2 on Sundays. So that means Phillip Island Race 1 should be on at 8pm tonight, PST, Friday the 26th.