While I'm not sure the world was asking for Yet Another Set Top Box (YAST, trademark is patent-pending), this should be of interest to Netflix customers at least:

The Netflix Player makes it easy to instantly watch movies and TV episodes over the Internet on your living room TV, or anywhere you have a TV and an Internet connection. Compact and lightweight, inexpensive but powerful, simple to set up and use (it’s the perfect answer for people who just can’t get enough Netflix).

Choose Movies on Your TV

Movies and TV episodes in your Netflix Instant Queue appear right on your TV screen. Use the included remote control to browse through the items you’ve added to your Instant Queue and pick something to watch — whenever you want. You can even read descriptions and rate movies, right from the comfort of your couch.

Universal Compatibility

Whatever kind of TV you have, the Netflix Player is guaranteed to work with it. Connect to the latest HDTV or one that you’ve had for years. With standard RCA jacks, S-video, component video, HDMI, and optical audio, the Player will work with virtually any TV, AV receiver, or home theater system.

Unlimited Entertainment

The Netflix Player lets you explore even more possibilities from the world’s largest online movie rental service. Access a growing library of over 10,000 instant movies and TV episodes. Watch as many as you like, as often as you want—with no additional fees. You’re in control with the power to play anytime and finish watching whenever you like.

Looks like its $99 plus an active Netflix membership. More important, perhaps, it has HDMI support as well as older connectors, but doesn't yet support the streaming or downloading of HD content: In fact, the quality is based on your Internet connection speed, which is interesting. Netflix says there are currently over 10,000 movies and TV episodes available to watch with more being added every week.