i download anything that i want to watch in super high quality 5.1 surround in the home theater which is stored on a NAS. stream everything else.
we have several devices in the house hooked up to tvs that are capable of streaming netflix, nhl gamecenter, grey market streams, etc.. ie. ps3, a couple of raspberry pi and a wdtv live. that's not including the laptops/tablets/phone which can do the same. i dont like the android boxes, prefer the rpi's and linux for that purpose (kodi).