I just got my disc. Watching a movie right now. The activation process was the same as the 360. You have to enter a code on Netflix's site to activate your "player". The queue seems to be a bit better than I remember from the 360. (Note: I haven't used the 360's streaming in a while. If I get around to it, I will plug my xbox back in to provide a current comparison.).
I am watching a SD movie. It took about 15 seconds to buffer and start. The quality is about the same as I remember from the 360 service. The video is heavily compressed, and the sound is flat. The library seems to have improved a bit, but it is still pretty bad.
I was surprised how fast the Netflix application loaded. I was worried since it was using java/BD Live. The movie thumbnails take a couple of seconds to load. I don't remember that from the 360 version, but it seems to be a trade off because you are no longer restricted to your queue.
The service does offer HD content, but there isn't a great selection. I read that it is the same on the 360, but can't verify. It's not bad, because there is no additional fee for me, but I will continue to watch my Blu-rays.
Thanks for the input, Jeff.
