The very new Netflix client for iPad is now thrashing/hanging, or eventually crashing out on me, every time I start it unless I disable the internet connection. This is after downloading and saving about 20 programmes with the new save facility. With the Internet disconnected, I can watch the saved programs, but now I can never watch streaming programs ever again!
So don't go near the new release! (or don't risk the download facility) not until a release quality new version comes out. This wasn't even worthy of qualifying as a useful beta.