As somebody in the same predicament and locale, I often find myself wondering whether it is any less objectionable to rent a VPN connection through the States.
I'm pretty sure the problem wouldn't be the VPN but rather the payment. Iirc they only accept US based credit cards/paypal for Netflix US. I researched it briefly a while back before Netflix was available here.
It's not impossible to get around but getting a CC from another country and the like quickly leads to pretty shady websites.
I've done the same thing. Used a VPN to access Netflix US in Britain, for some newer BBC stuff that I've already contributed to through the license fee...
This 1000x. iPlayer is lauded, and generally works well, but it has incredibly restrictive, short term availability of content entirely paid for by taxpayers.
It is unclear how anyone in the UK can benefit from TV programmes removed from this service, or WHY any content for which the BBC doesn't have permanent distribution rights (via iPlayer) should ever be funded or produced by the BBC.
Netflix has a very limited, poor selection of content. Every single movie I've tried to watch on Netflix in the past month hasn't been available for streaming.
I very much enjoyed Netflix while staying with family in the US. In Belgium, however, the available content is so limited that it's just not worth it. Not even Friends, Simpsons, X-Files, nothing.