Last night I was able to get my Droid to play Hulu and Netflix using the Playon server using UPnPlay and VPlayer. Unfortunately it's only over local wifi and it won't run over 3G, although the Playon team has made mention multiple times they are working on an Android app similar to the iPhone app that can play over 3G. Until then this works relatively well if you're on your local wifi network and want to use your Android phone or tablet for streaming Hulu, Netflix, and a variety of other channels Playon provides.

What you need:
  1. Install and setup Playon on a local media server
  2. Install UPnPlay from the Android Market
  3. Install VPlayer from the Android Market
Connect to the wifi network that has the Playon server, start up UPnPlay and start browsing until you find the content you want. A prompt will come up asking what app to play the media with, select VPlayer and it should start playing. The usual Playon streaming rules apply here; pause/rewind works and fast-forward only works if the content has already buffered to the server.

Playon channel list and Netflix queue:



Technical Notes:
Motorola Droid 1 running Android 2.2 Froyo
Is rooted with custom kernel but stock Droid ROM
Apps are available in Market and don't require a rooted phone