Netflix is about to launch in the UK. You can sign up for a free one month trial. Then its only £5.99/month - PC/PS3/360/iphone/iPad
Activate and Use Netflix® and earn 100 Xbox Live Reward points for your first Netflix use.http://rewards.xbox.com/
This is £1 more than lovefilm BUT this has 720p HD films/tv, netflix recommend you have a 4mb connection.
Netflix also has 5.1 audio support, lovefilm doesn't.
The film/tv selection is limited at the moment, much more content will be added over the coming months.
No tv/bluray player has this built-in as an app yet, the xbox 360 console has it already, the ps3 might.
TopCashBack are giving you £12.12 for doing the 30 day free trial with Netflix. http://www.topcashback.co.uk/netflix/
Exclusive to Quidco! £15 cashback for a new first time Netflix registration who watches 5+ hours of content within the 30 day free trial. Get unlimited films & TV episodes instantly streamed straight to your TV, computer and various mobile devices for only £5.99 a month.http://www.quidco.com/netflix/
Not read all 1000+ comments, but if you go via TCB (where there is no minimum use requirements) you can get them to match the £15 which Quidco are offering. I've just done it and they've increased mine to £15 within an hour of raising the claim.
Nintendo wii also has Netflix app!