Netflix? It's $5/month - go to Netflix.com to sign up.
You can watch movies and TV shows in Instant Queue (instantly on your computer/gaming system such as Playstation, xBox 360, or Wii) or have them sent in the mail on DVD. Postage is free, and they'll send you a new movie on your movie list as soon as you mail in the old one.
Usually they have the brand new releases on DVD, then they'll add them to Instant Queue, then they go back to only DVD. Whenever we order a new release on DVD, we usually see it on Instant Queue in a month or so.