The new Netflix application for PS3 promises to change the way I watch, uh, stuff for the foreseeable future. And the just-released update means the formerly required physical disk is now a handy coaster!

See it in action above. I gave it a quick test drive last night and was quite impressed. There was a bit of a pause on load-up, but the gorgeous and easy new navigation is well worth a few seconds of waiting.

Picture-quality clocked in at 1080i, which is an upgrade, and movies and shows start streaming almost instantly. I didn't experience any of the promised Dolby 5.1 sound (I played a few minutes of "Iron Man" which seemed to just be standard stereo), but I'm pretty thrilled either way.

Of course, Netflix streaming library isn't as huge as the disk library, but I easily found enough great movies and TV shows to make me once again contemplate ditching cable altogether. If only Netflix could stream live sports ...

I'll share the Netflix streaming gems I find on Twitter. Follow @BradAlive.