It's about time. I've been sitting here all month waiting for the NetFlix streaming to go live on my Xbox 360. I find it totally apalling that they waited this long to even support it.
Only problem is they offer very, very, very little in the way of movies they have to stream. I think it's only something like 12,000 titles.
The funny thing is it's in their best interest to get more customers who stream cause putting a hardcopy of hundreds of thousands of movies out there is asking for piracy to happen. If they offered streaming to every customer Mac, Windows and Linux then they wouldn't have to worry about it as much. I've never done it, but I know guys who do nothing but pirate their netFlixed DVD's to external HD's.