Netflix for iPhone now supports video out
iPad users have had this capability since May of this year, but their app was released back in April. The update is then following the same schedule, arriving one month after the app became available for the iPhone and iPod Touch.
The Netflix streaming service offers a limited library of their content, but it is growing rapidly. Netflix recently struck a deal to stream Paramount, MGM, and Lionsgate films. They also purchased the streaming rights to much of NBC's past content, and even day-after playback of many of their current shows.
source: iTunes via Gizmodo