I think the rental prices on iTunes are just fine. It's basic economics. People who can afford it, get the movies first and the people who can't have to wait until it's on Netflix or HBO. Seriously, I'm a progressive liberal and I don't have a problem with this chain of events. The only thing I would like to see change is that new movies are directly available to rent OR see in an actual theater. There are competitive advantages to each scenario so it doesn't necessarily kill theater business that much. There will still be people who want to go to a movie theater for the big screen, big sound, 3D, IMAX, group experience, night away from the kids, etc. and there are people who like the quiet enjoyment in their own home or being able to afford a movie with the entire family.
P.S. if you can afford a SS Watch, you can pay $3-$5 to rent a movie