We recently got a free trial of Hulu Plus. We love Netflix, and don't have regular TV, so we thought we'd give it a go.
The short version: it's got a long, long way to go before it's worth the money.
The long version: the selection of content is pretty lousy. They have a total of 543 movies. That's about 10% of the DVD collection I left behind me, and about half of what Netflix have in just their foreign romantic comedies section. Of those 543 movies, you get a small selection of uninspiring documentaries, a pile of crappy sci-fi B-Movies from the 1950s (Atom Age Vampires, for example), a load of early John Wayne movies, a bunch of straight to video kung fu flicks, and not much more. Out of 543 movies, I found maybe five I wanted to watch, and even those were in the "if there's nothing better to do" category. But guess what, there's something better to do.
The TV selection isn't any more interesting. I'm watching Jack of All Trades, which is fun and which I haven't seen anywhere else. Spartacus: The Motion Comic looks like it'll be worth an hour of my time. And, errr, that's it.
The PS3 user interface is dreadful. They don't, for example, tell you who's in a movie, or who directed it, or when it was made, or give you a rating. They do, however, give you screen space to tell you what network it was provided by. They also give you the ability to sort your movies by network. Guess what, I don't give a damn about the network, I want to know about the actual movies! Navigating around is weird: you can't just click on a movie to find out about it. If you click, you play the movie: instead, you have to press DOWN to access the movie info screen, then click again to see the actual details, then back and click something else to put it in your queue. Even starting and stopping movies is a pain.
I reckon it'll be worth taking another look at Hulu Plus in six months to see if they've improved their user interface and got anything actually worth watching. Until then, we'll stick with Netflix. We've already paid for the first month (we thought it was a month's free trial, but it was actually only a week), which gives me time to finish Jack, but otherwise, we're done with Hulu Plus now. A huge, huge disappointment.