No Tron Legacy or Harry Potter 7, and its not Netflix, but if you are looking for a quick way to waste some time waiting, you can watch a large variety of free out-of-copyright movies and TV shows directly on your Xoom on Internet Archive: Digital Library of Free Books, Movies, Music & Wayback Machine
Ranging from old classic cartoons such as Superman, Pop-eye and Betty Boop, movie classics like Cleopatra and sci-fy B-movies as well as TV shows like The Three Stooges and the Lone Ranger.
Just visit the site here on your Xoom:
Download & Streaming : Moving Image Archive : Internet Archive
and use the MP4 file links to watch the videos (streaming)