Having used the netflix "watch it now" service as well as iTunes I can say that of the two, Netflix is superior. Having not used Amazon's service or movielink or anything like that I can't comment on them except to say that I would never use them.
With netflix, I pay 16.99 a month for 3 movies out at a time. On top of that I get 17 hours of online watching for free (As in, when I signed up I paid that amount for the DVDs and no instant viewing). What I like about the Netflix service is that A) It's fast... movies start within 15 seconds B) It scales well depending on your connection speed (up to DVD resolution video) and C) I "rent" the material, I do not pay to own it.
Recently, Netflix has also partnered with NBC and I know that for some shows (Heroes specifically) they will put the most recent episode on line 2 days after it airs without commercial in widescreen 720x480 resolution.
I have also heard that netflix are testing out plans for unlimited online viewing along with DVD rentals at their current prices for new customers. It seems like a win win to me.