Netflix is 720p max I believe on the PS3. I heard that sony is going to put it as an app in the XMB real soon. Maybe in the next update. Hulu Plus works awesomely on the PS3!
Airplay my friend if you have a ipad\itouch\Iphone you will be able to stream video\pics and maybe apps to the appleTV.
iPad? check. iPhone? check. (All mac's in my house? check.) Is Hulu built into the PS3 or does it require a disc like Netflix?