The other half of what peerflix does isn’t really visible there; out-of-frame, peerflix spawned a media player, and the video file that’s downloading (I am not familiar with the title; it was the example from the home page) is already playing.
It’s a clever shortcut from the “traditional” download-then-watch model that we all know.
Whether or not you adopt it depends on your connection (as in my case) or if you find yourself needing to decide-download-and-watch in the space of minutes. Your sense of urgency, in other words. 😉
On top of that, peerflix has a number of options you might ordinarily associate with torrent clients. Pay close attention; there are a few there that might come in handy for subtitles or other support files.
I’m going to give peerflix a thumbs-up, mostly for being an unusual tool that seems to do the job well. And it has color. Can’t forget that. 😉