I agree, you can save in certain areas. But is the public transportation in Columbus that great? I've been to Columbus, and I don't think I would live there w/o a car. You're only a couple miles from Amish country, literally. I guess growing up with a car and visiting places with public transportation really makes me appreciate my freedom of movement.
The public transportation (buses only) isn't great, but it's serviceable. A bus to downtown stops a few blocks from my house every 10 minutes in the morning, every 15-20 minutes in the afternoon-evening, and every half hour after that. If you're near High St., there are several buses that run quite frequently -- at least every 10 minutes between downtown and Ohio State's campus. From downtown, you can get literally anywhere in the city. Most buses run from at least 6 AM to midnight.
The cost is somewhere around $50 per month, but I'm not totally sure because you ride free with an OSU student ID. For those times when you really do want a car and can't ride with a friend or borrow one, rentals are quite reasonable: I just looked at renting a car from noon Friday to 8 AM Monday and the cost is under $70 from Budget.
I've been without a car since April 2008, when a driver crossed the center line, totaled my car, and ran off. I love driving and I miss having a car, but I've been able to get around all right without one. Of course, getting around is a huge pain when I go back home to visit.