It does everything but stream, which is not unexpected since its not official yet. Promising though as it appears to not have any device restrictions (yet). Since tv.com streams over wifi (and rather well I might add) we know it'll work, but it's up to Netflix whether they'll allow it (since Virgin can limit it to queue management and only allow you to stream over wifi). Before they blocked it, others reported successful streaming on other devices. This along with Hulu will make phones like the Optimus fantastic alternatives to the $49 iPhone which not only works for both, but according to specs i've read, also has a 600mhz processor like the Optimus. Personally, I have no desire to be one of the countless Apple zombies out there on their iPhones thinking they're better than me... which is why I had to go Android.
Now, we wait and see...