I did a quick search of HeavyTV and didn't get any results, so I'm hoping this site will be news to many people....
http://www.heavytv.ca/index.php
HeavyTV has streaming video (through RealOne Player etc) of full length movies. It also has music videos and music itself. None of its available for downloading I believe, simply for viewing. At any given time there are 3-6 random movies that you can watch - and they rotate frequently.
With broadband connection movies start up nearly immediately for me, and they are pretty decent quality. Movies are often divided into multiple clips, and in between there may be fundraising advertisements but you can skip them easily.
HeavyTV is based in Canada. To be honest, I'm personally under the impression that this is legal - but I don't claim to know for sure. However HeavyTV does seem to have some respectability to it - and in the fundraising speech they give they've mentioned licensing concerns and such for providing their 'free and legal' service. They might lie, or it might only apply to Canada. So this might be a somewhat legal grey area, I hope it was ok to post here.
Nevertheless enjoy the site during periods of boredom. Or better yet watch a movie as you post.
edit - they don't have any real fantastic movies up at the moment, just give it a check ever day or so to see whats new. Fargo was being shown last week for instance, and they've had the Usual Suspects on as well as Casablanca, etc etc.