A friend of mine had a 3-month free trial period with LOVEFiLM which had to be used by someone else, so she kindly gave it to me. I'm definitely a convert! It's re-invigorated my interest in film in quite a surprising way.
There is, of course an abundance of blockbuster titles on their list. But if you want to explore other types of stuff, it's not such a bad selection. Members of LOVEFiLM are invited to put a list together of their favorites for others to browse, so I posted a list of avant-garde movies (predominantly short films) onto the site. There's actually more out there than you might expect.
If you wanna take a look, this is the link: http://www.lovefilm.com/community/view_list.html?customer_list_id=18215