Bandwidth? Bandwidth? What Netflix on PS3 runs on fairy dust now? Every service in this discussion uses bandwidth. I get the feeling that you retrying to be obstinate on purpose.
But just for the sake of your argument, Comcast has bandwidth caps -suspended for now but they do have them- guess what doesn't use bandwidth against their 350 gig cap? Any video app that authenticates through Xfinity(HBO Go, Showtime, ESPN, etc.) Verizon has no cap, nor does Cablevision in the northeast.
Also, using Media center,which I do, the 360 replaces a cable box, it also has universal search which my cable box does not.
If I'm interested in a movie and I search on Xbox it will show me every relevant app I can see the movie on. I don't have to hop in and out of apps to see if the movie is available. Discoverability is a HUGE plus on the Xbox at the moment.
As for IPTV, we'll see when that hits the US.......because we're sure it's coming right???