The Netflix for iOS app was just recently update with a new UI among other improvements. Now a new update (2.4) has been released which brings support for iOS 6.0 along with the large 4 inch display of the Apple iPhone 5. There are no additional features other than the improved compatibility.
You can download the latest version directly on your device through the Apple App Store or by using the link which follows:
Netflix for iOS is compatible with all iPhone, iPad and iPod Touch models that run iOS 5.0 or later. Video out is only supported in the iPad, iPhone 4S, iPhone 4 and iPod Touch 4.