Adam ... are you aware of Apple's rent-a-movie feature in iTunes?
Quote:
http://www.apple.com/itunes/store/movies.html
Standard-definition movie rentals are $2.99 for library titles and $3.99 for new releases. And for just a dollar more, you can rent HD movies directly from your widescreen TV via Apple TV. Rent a movie and you have 30 days to start watching it. Hit Play, and you have 24 hours to finish it — or play it as many times as you want. Rentals disappear when they expire, so they won’t take up storage space on your hard drive.
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From what I could see in various presentation videos (i.e. the keynote), it loads real fast, streams properly and does not require you to wait till it's finished like when you're downloading a torrent.
(not that I'd even know what that is ...)