A recent update to Netflix's iPad app provides Retina display graphics for menus and navigation, but not for the streaming videos themselves.
However, Netflix says it's planning to add HD video streaming to its iPad app in the future.
"The video is not in HD yet," Netflix spokesman Joris Evers told Mashable. "That is on our roadmap, but I can't share timing at this point."
With a screen resolution of 2048 pixels by 1536 pixels, the new iPad is Apple's first tablet that can support high-definition video without down-converting. Previous iPads had a resolution of 1024 pixels by 768 pixels, and although they could play 720p videos, the resolution had to be cut down to fit the screen. With the new iPad, even 1080p video is supported.
So far, video app makers aren't rushing to convert their libraries to HD for the new iPad. As Mashable points out, HBO Go and Hulu Plus still stream in standard definition on the new iPad as well. (I'd add NBC's video app to that list.) ABC is a rare exception, having already updated its app's interface and videos for the Retina display.
Of course, 4G iPad users may wish to avoid HD streaming when using mobile broadband anyway, given video's tendency to gobble up monthly data allotments.