I've checked out Netflix's streaming options and am not impressed. Oh well.
It depends on what you are looking for. If you want bigtime new releases, look elsewhere. But there are a lot of high quality offerings. Though I agree, they can be difficult to find. For example, I only found out here:
http://forum.maximumfun.org/viewtopic.php?t=4792that over 200 episodes of Comedy Central Presents are now available.
So, what might be of interest to FOTs?
Well, there are lots of Criterion DVDs available; great foreign films like The Host and 35 Shots of Rum; older classics like All About Eve, One Flew Over the Cuckoo's Nest and A Streetcar Named Desire; and lots of great TV like full seasons of Buffy, Angel, 30 Rock, Dr. Who, Archer, Alfred Hitchcock Presents, Arrested Development, X Files.
For a smaller set of FOTs (and for smaller FOTs), there is also a wide range of great kids stuff.