I use both netflix and lovefilm via my ps3.
Pretty good to be honest. But i'm on the sick from work at the moment, so i have watched films that i wouldn't usually watch, and surprisingly enjoyed them.
Netflix is better for the tv programmes, every episode of shameless, prison break, south park etc. Which is good.
Lovefilm seems to be having more newer titles on now aswell, I have had lovefilm since july, and that has definitely improved.
That has my favorite film on there too, rise of the foot soldier, which has been watched a few times on there :)
I love them both personally, netflix would be the best of the two i'd say though. more variety.