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Netflix instant streaming demoed on PlayStation 3 (updated with more video!)

Aw, suki suki now! Those Netflix instant streaming discs that started floating out to anxious PS3 owners yesterday are obviously splashing down, with YouTube user (and avid Engadget reader) otimus posting up a stellar walkthrough showing everything in action. We've got to admit -- the whole thing looks exceptionally sleek, but given the PS3's multimedia prowess, we didn't really expect anything less. He stated that he didn't notice any stuttering as he sifted through films and mashed play, and that any jitters you see in the video (after the break) can be blamed on the janky TV capture device. So, any others receive their disc today? How's the experience?

[Thanks, Otis]

Update: Our best buds over at Joystiq got some quality hands-on time with this (video is now after the break), so be sure and check it out!