Netflix has hooked up with Microsoft to stream videos to Xbox 360's, as predicted by the Industry Standard prediction market. Like the Roku box, the content is streamed from Netflix's servers and will similar standard-definition quality video to what has been available before.

Unfortunately for some, the content is standard-definition only -- no high-def yet -- though that's not as big a deal as I had initially thought becaus as it turns out, not as many Xbox 360 owners are use HD anyways.

A NPD Research survey says that only 30% of Xbox 360 owners were aware of the HD abilities of the box -- so perhaps the SD-limitation isn't as big a limit as it could be.

However, over the next few years, as fiber-to-the-home broadband becomes more common, average bandwidth will rise and streaming HD will become the standard.  Hopefully Netflix upgrade by then.

For now though, Xbox 360/Xbox Live/Netflix subscribers can get lots of movies directly on their TV without waiting for the mail.

Gizmodo played with the new device a bit and called it "very promising."