I used to have both Blockbuster and Netflix, and here's what I found:
1. Blockbuster is better for new releases, because the studios have special arrangements with them, and they exclude Netflix from those arrangements.
2. Netflix is more user-friendly. It has a better search feature, it's easier to play around with your queue, and so forth.
3. Netflix is probably still cheaper, even with the price increase.
4. Neiflix is faster. Blockbuster has a terrible turnaround time. You have to wait twice as long to get a new movie.
5. Netflix has the "watch instantly" feature---BB doesn't.
Bottom line---BB sucks, and Netflix rocks. I cancelled BB a while back, and I put 'Flix on hold, so I didn't know about the price increase, until just now.