Is Hulu Plus Worth the Cost (and Commercials)?

Hulu Plus [2], the long-awaited subscription service from the streaming video pioneer, was praised for its high-quality mobile app and the promise of a greatly enlarged selection. But a certain study came out today that suggest that Hulu Plus might not be worth even the meager $10 per month it costs.
Research firm One Touch Intelligence analyzed [3] the catalogs of both Hulu [4] and Hulu Plus, and found that a whopping 88% of Hulu Plus's more than 28,000 episodes are also found on standard free Hulu. If you're talking video clips, that percentage goes up to 98%.
There are few benefits to subscribing to Hulu Plus, when compared with the data. There are still ads, in the same quantity as on free Hulu. There is a mobile app for iOS (iPhone, iPad, iPod Touch) but not for Android, BlackBerry, or any other mobile platform. So is it really worth paying $10 per month for a mere 12% (about 3,345 episodes) of exclusive content?
Even worse, much of said content can be found on other services, most comparably Netflix [5]. Netflix, at its base price, costs only $9 per month, comes with a far larger selection of movies and older TV shows, and also offers DVD- or Blu-ray-by-mail service. Hulu Plus is a better choice to watch shows as they air, but is that worth the cost?
Dan Nosowitz, the author of this post, can be followed [6] on Twitter, corresponded with [7] via email, and stalked in Brooklyn (no link for that one--you'll have to do the legwork yourself).
