I have Apple TV with a basic Netflix subscription and I love it. I am currently watching the entire Mad Men series. They also have all the Ken Burns documentaries (It took me 4 months to watch the Baseball series.) They aren't so great with the movie selections, but they drop and add things all the time. For example, I recently wanted to see some old 80s movies like Real Genius or Valley Girl and they didn't have either, but you'll find the entire Marilyn Monroe set, a lot of westerns, or Breakfast at Tiffany's. As for recent stuff, they are hit or miss. For example, you can see the Hunger Games Catching Fire (pt 2), but you can't see The Hunger Games part 1.
I don't necessarily have to see current TV shows the day after they air, so that's not important to me (I'd much rather watch an entire series back to back, uninterrupted.) So for things like Downton Abbey, I just buy the season on iTunes and watch several episodes over a weekend.
I love their queue system. Here is some of the stuff currently in my queue:
- House of Cards
- Sons of Anarchy
- Breaking Bad
- North & South
- Turn
- The Borgias
- Lillyhammer
- Bletchley Circle
- Dear Frankie (worth watching 20 times)
- Silver Linings Playbook
- Portlandia
- October Baby
- Roman Holiday
That's a lot of TV for the price of a grande latte and a scone.