Here is the long waited service for WII owners from Netflix. I am owner of pretty much every gaming console and finally settled with PS3. Enjoyed Netflix on XBOX 360 to the full and now doing the same on PS3. Good part about streaming disk is, its FREE. Off-course you need Netflix membership though. With XBOX 360, you need to have gold membership which costs you $45 per year.
You can reserve your disk for WII console from the following link.
KP garu, this is great. I am using PS3 can’t complain , except for lack of subtitles.