What's the best way to stream Netflix and/or Hulu to my new Android phone?

I have a brand-new Android phone from AT&T (it's an HTC Inspire), and I love it except for the fact that I haven't found a cheap/convenient way to access content on my Netflix streaming account from it. They just recently announced that future Androids built on the "Snapdragon" platform will have this capability built-in, but I guess that doesn't apply to my phone. I have also heard about "PlayOn" and "Plex," both of which have Android apps now available. But both of them require you to be running their software on your PC, which you then can link to your phone (if it is on the same WiFi network, I guess). I am actually tempted to try out one of these, but I'm unsure which one will be most effective and least expensive for me. If you have any advice on this, or if you know a better way to do what I am trying to do, I'd love to hear from you!