I still don't want to root this phone - unlike I did with my Fascinate. I am waiting patiently for the official Netflix app for Thunderbolt to roll out. In the meantime, I am happy with TV Shows Stream (I think the devs of this app should pay me since I have plugged it so many time in these forums, lol) and its sister app Movie Streams (which, I have to admit is not so appetizing as TV Shows Stream). Another app I use is Watch Movies Now - I wonder how they are getting away with it as it does not seem to be legal copies of the movies. They even have some movies that have just hit the theaters - most of the new movies are TS or TC versions. There may be some R5 or SCR versions too but I'm not sure. But they do have an option to download the movie to the phone and watch it offline.
So I will have to be content with these apps until Netflix comes around .. but even after that TV Shows Stream will still be better for TV shows.