While I have not had the pleasure of seeing the PSN movie downloads as I live in Canada and the service hasn't been offered here, I've heard good things about it on the forums.
However I've been thinking that if they are starting to offer digital distribution for the ONLY medium that their bluray is trying to capture (movies), aren't they admitting that maybe bluray is not the great format of the future?
If Microsoft was to add bluray to their machine I'm sure most of you would ridicule them for giving in and admitting they were wrong. So why doesn't Sony adding digital distribution for movies mean they were wrong about bluray?
My Xbox 360 has had a movie service for quite a while now, and with addition of netflix partnership and pretty much all movie studios(except Sony studios) it sounds like it has been very profitable... so its understandable why Sony wants to capture some of that market...as well as please their existing fans who may want a 360 for movie downloads.
But if they do decide to develop the movie service on the ps3 and in the future try to bring it to the same level that xbox 360 will shortly have (with netflix)...shouldn't they stop telling people to buy bluray players?