Long time, no see. I just made a hack that I feel I should share with you all.
Attached is a hacked version of the Netflix app, I've modified it to try to raise the bitrate. On my galaxy nexus it brings the bitrate up from 750 kbit/s to 1750 kbit/s (3000 kbit/s in Netflix 2.4.1). I've also modified the seeker behaviour to be better matched for Android TV systems by changing the sticky seeker to 10 seconds instead of a value based on the movie length, which could make the seeker snap minutes away from where you wanted to be.
Notice that this app isn't signed with the Netflix private key, but the default key that came with apksign, so you will have to remove that app before using this one.
Netflix 3 is out, but I still recommend Netflix 2.4.1. You can read why and download Netflix 3 here.
Netflix 2.4.1 (build 950)
Here are some exciting news. Super HD support for Nexus 7. I've modified the files to unlock that to all 4.3 phones, but there's a performance issue on my phone so I cant test it. Therefore I will upload three files this time. One that should be capable of Super HD and two more limited.
16x maximum bitrate
This should be capable of Super HD, if your phone can handle it and uses Android 4.3.
Maximum 3850 kbps
I haven't been able to test this much, it's more than Galaxy Nexus can handle.
This is what the Galaxy Nexus can handle. For image comparison, please visit the link in the second post.
Netflix 2.4.0 (build 939)
edit: I've added a few changes, because on my Netflix device it takes a couple of seconds before the image quality goes beyond 56K modem quality. I therefore set the previous maximum bitrate as the new minimum bitrate. I have only tested this on a single device and it may buffer forever or lag. Please let me know how well it works if you use it.