Now that I have had my hands on a working Netflix app on my Acer Iconia a500 for a couple of days I figured it would be good to post a follow up to see how things are going with it. And I am happy to report that it is working just fine. The Netflix Browser Interface resembles that of any other mobile device's Netflix app. Once the streaming has started I have experienced some fuzzy video for the first few seconds of the flick I'm watching and then it clears right up.
I can only assume this is due to the app adjusting video quality to the available network connection. Regardless, it doesn't detract from the experience. I have encountered no force closes or crashes either (my iPod Touches Netflix app is crash happy) which is awesome. All in all the app has been a great experience and I'm so happy the guys at the XDA Developers forum took care of it!
I am having issues with the video having a delay in sound. Have you heard of this?
@TeresaM I have seen this a couple of times with my own device/Netflix install. It seems to come and go and the only thing I can attribute it to is the speed of the Network Connection on the Iconia(which the wireless NIC isn't the best in the world anyways).