I cancelled my Netflix subscription today. I've been a Netflix subscriber on and off for a while, maybe since 1999? At least twice I've got to the point where I get four movies at home, and they sit on the TV for a month. Then I send them back without watching them. So that kind of kills the nice cost per movie that I was going for.
I've been using Apple TV to watch movies; since I maybe watch 2 or 3 movies a month, the $4 or $5 I have to pay on the spot is actually cheaper than the $20/month Netflix subscription. And I don't have to figure out which movie I want to watch 3 days from now. If I had a better internet connection, it would be even more instantly gratifying. (My current connection is a 2mb DSL; I'm hoping Verizon FIOS will come to town someday.)
I must say the Netflix cancellation process is the nicest and easiest I've ever seen. They make it simple, easy to find, and they ask why you are cancelling without being annoying about it. Also, they keep your queue alive for a year. It's a good way of saying "we want you back."