Ok so I bit the bullet and got a 2 week netflix trial account and have been using it for a few days and so far here is my thoughts on it.
The first and only dvd I have gotten so far got here the day after I placed it in my quine and it worked and all so no complaints.
My big thing however was the video streaming. I have watched probably 9 movies in 3 days on my computer. Trying out both the media center extension and the browser based player.
From what I can see the media center based player kind of sucks for me because it seems to have a few bugs such as randomly crashing my computer or rather making it to unstable to use.
The browser plugin on the other hand seems to work great as long as you install the silverlight extension. The quality while no where near HD is still acceptable and watchable.
I will be testing it on the 360 when I get xbox live [courtesy of Dark] and once I send back a dvd and get a couple more in the mail I will write a full review on the process but so far I would recommend netflix if you dont want to use any of those ahem other methods.