I voluntarily suspended my Netflix account for 3 months for the very reason you mentioned; namely, I've seen or already own everything I want to see.
Coen Bros. is a good recommendation; so is 300 Spartans.
I sort of weigh in both hands whether to continue the expanded cable on a monthly basis, or find something I'm missing with the movie thing...
Maybe if we do a "APS Members' Top 10 Movies" thread, and that will spark some new ideas.
Mine are somewhat odd, admittedly.
Braveheart
Oh, Brother Where Art Thou
The Fisher King
Lord of the Rings (Fellowship, 2 Towers, Return)
Color Purple
What Dreams May Come
A Knight's Tale
Big Fish
Monty Python & The Holy Grail
Earthsea