Netflix has just released an update to its iPad application, and with it finally comes a version that is compatible with the iPhone and the iPod touch. No mention of VERSION of iPhone compatibility was made, so I assume it means iPhone across the board, though you will need a good 3G or WiFi connection to actually watch anything.
The interface is very nice and easy to navigate, and lets you pick up where you left off on the last thing you were watching.
So anyway, if you have a netflix account and haven’t already downloaded this app by now (meaning as soon as you saw the title of this thread you should have dropped EVERYTHING and grabbed it), do it now!!