One of my most used applications on the Apple iPad is the Netflix streaming video player. I just read over on Boy Genius Report that Netflix is now available for the iPhone and iPod touch. The official press release details the release today. The Netflix app (iTunes link) is free, but you will need a Netflix account (starting at just $8.99 per month) to stream video content. The great thing is that this account includes one physical DVD per month and unlimited streaming of movies.
With this Netflix app you can stream your live queue via WiFi and 3G. Video content includes both movies and TV shows and as Netflix gets more popular they are adding newer content too. You have full control over the streaming video too and can fast forward and rewind as you like. You can even start watching on your TV at home (through a device like the Xbox 360 or Roku) and then pick up right where you left off on your iPhone or iPod touch.
I won't get a new iPhone because I am not going back to AT&T, but may take a look at the expected new iPod touch devices that should be announced next week. I personally would love to see Netflix for Android so I could enjoy my content on the EVO 4G with the cool kickstand.