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iPhone App: Alchemize
It's pretty nice - integrated BitTorrent client, channel guide, and everything.
In my opinion, Hulu is a fantastic service. Really well done. The embedding is a great bonus. Everyone wins with the Hulu model.
I really don't understand companies that try to go against the grain with these proprietary/downloadable clients. It's a huge huge obstacle to adoption.
Apple can get away with it (iTunes) because it's Apple. But look at how long it took Apple to reach its current music player/music store dominance. It required a number of years, a LOT of money and a combo hardware/sofware/content strategy. Takes a lot of savvy AND resources and patience to pull off something like that!