In reply to broady:
I've got both, mostly watch on iPad, sometimes on PS3 or PC.
Until about a month ago Netflix was miles better on iPad because LoveFilm crashed all the time. Now it's more balanced. LoveFilm has a wider choice of movies and Netflix has a lot of good US TV a lot of which has never made it to freeview TV in the UK.
LoveFilm has a lot more flashy pictures in its client but the client is also slower as a result. Netflix is fast and reliable. If I had to go for only one I'd go for Netflix but they are so cheap getting both is a reasonable option.