I had to double-check to make sure this wasn't an April Fool's joke. Yes, Netflix has released a streaming video app on the iPad through the iTunes App Store.
The app seems to let people browse Netflix's Watch Instantly library, add movies to their queue, and then watch videos directly on their iPad. Oh, and the app is free. Unfortunately, there's no word on an iPhone version of the app, or any confirmation whether the iPad app works with 3G plans. Still, it's certainly a nice app to have on your brand new iPad! If you can find one.