...but you can't stream HD from Netflix.
100% incorrect, you can stream HD Netflix through the 360, I'm doing it currently. Netflix detects your network speed when starting a movie and will stream HD if you have 4-5Mbps connection. At $8 a month, its unmatched for watching HD content. I dont have the desire to spend hundreds/thousands building a Blu Ray library when I only want to watch tv/movies every so often. Plus they're always there if I want to replay them
I cancelled my television service, and live completely off Netflix for both tv/movies. $8 a month. Thats a lot cheaper than $90 a month for tv, +buying movies (or paying to rent)