I've had it for about a 2 years and I'm constantly watching TV and films on it. For the price of £5.99 a month you can't really complain. I've tried tinkering with the DNS settings on my PS3 and managed to log in to the US version of the site which does have a much larger collection. I stopped doing that because I started to lose my WiFi connection so I'm back to the normal UK version now.
There are some great shows available (League of Gentlemen, 24, Breaking Bad, Alan Partridge, Lost, Peep Show, IT Crowd, The Office (US and UK), House of Cards, Arrested Development, Archer, Luther, Thick Of It, Buffy, Firefly & Father Ted) which make it more than worth the money in my opinion.
I suppose you could rinse everything that you wanted to watch fairly quickly if you wanted to avoid paying every month. The free trial will give you a good representation on whether you'll use it or not. You can always cancel it whenever you want as well which is another benefit.
One downside is that a few films and TV shows have disappeared in the last 6 months. I think this is down to Netflix not renewing (or being outbid) on the streaming licenses for certain shows.