Multichannel News is passing on word from "an industry executive familiar with Netflix's plans" that the company is prepping an app for the iPhone and iPod touch (not to mention the Wii, which we've heard before) that would let users enjoy their Watch Instantly queues from the comfort of the small screen -- likely restricted to WiFi, of course, because the mere thought of trying to stream a movie over a saturated 3G network is about as brutal as fingernails on a chalkboard. It's a cute rumor; the overlap in Netflix and iPhone owner demographics has to number in the hundreds of thousands, so it's
