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What is netflix's streaming catalogue like?

We have lovefilm here in the UK, but while they offer a decent DVD postal service they have a very limited online selection. To make it worse, the few new movies that you can stream aren't part of the packages - they cost £3.50 pay per view. We're stuck with that until netflix arrive next year.
 

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Netflix is awesome. You pay one cost per month just to stream. They have new movies and old. Only thing that kinda stinks is some of them are only 480p. On the bright side there is more and more 720 content. Even films that won Oscars: Winter Bone, The Fighter, and such. Overall for 10 bucks a month it is a steal.

Right now everyone is made that Streaming and Physical are going to be separate but for people like me (no Cable TV) it is still a great deal!
 
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