On gizmodo today they posted a link to this program called PlayOn. What it does is allows you to stream youtube, hulu, netflix (soon) and other channels programming to the PS3. I just tested it out and it seemed to work just great. Even for HD content. The picture quality isn’t pristeen but for streaming its pretty decent.
PlayOn is in beta (read: free) and the trial period is 60 days after which you’ll be able to purchase it for $30. Which I am considering, depending on how well netflix’s works on it. I hope netflix ramps up the number of their streaming movies as well.
Unfortunately, the program only runs on PC for now.