I'm right along there with Larry.
I have a VERY inexpensive Insignia Blu-Ray/Netflix streaming player I picked up refurbished from E-Bay for less than $65.00.
The DVDs are at least as good as my hyper modded old Oppo. Blu-Ray is fantastic. The streaming quality is not quite up to HD broadcasts. As Larry mentions, a lot depends on the source. A lot of what I watch are old BBC tv shows. Picture quality is not as important to me as the content.
On new content, such as the Girl with the Dragon Tattoo trilogy, the picture quality is very close to HD broadcast.
I'm keep my Netflix three at once for a little while longer for the Blu-Ray. That will be subject to change at any time.
I also have mine run with wired Ethernet with Comcast and have never had a problem with drops.
If you are thinking about this, search on E-Bay using Blu-Ray and Netflix. You should be able to find some Sony and Insignia players for $65.00 or less. I feel this is a far better deal than a Roku box.
The DVDs I've seen on Netflix have been nowhere close to regular DVD, let alone near Bluray quality. However, for what I watch using Netflix it doesn't matter much. I'm using a HT computer to access Netflix. Another problem is now that they have their pay for download model, for those of us still on the old pay for DVD/Bluray model, the number of downloads is dramatically reduced.
Another thing I can't do with Netflix is expand 4x3 shows into 16x9 mode. Not sure why I can't do that.
It would be great if Netflix could replace my cable. I pay $75/month for basically nothing on cable.