The long-rumored Hulu premium service, dubbed Hulu Plus, was announced yesterday, and armchair analysts across the Internet aren’t happy.

For $10 a month, subscribers will gain—or rather, retain—full access to Hulu’s ever-expanding catalogue of television shows and movies. This includes: first-run, current season episodes from popular shows, such as The Office, as well as complete seasons of classic series, such as Buffy the Vampire Slayer.

In conjunction with this announcement, Hulu revealed that applications that work in-tandem with the new premium service will appear on almost every electronic, Internet-ready device in the known universe: iPhone, iPad, Xbox, Playstation 3, etc. You name it, and it will probably support it.

Of course, one question remains: Is it worth it?

The Argument For Hulu Plus

1. Boondoggling On-the-go: Imagine being stuck in a three-hour seminar on a Friday night. With Hulu Plus on your iPhone, time will cease to standstill.
2. Quality Content on a College Budget: Even a college student can afford $10. Well, as long as he/she doesn’t spend it on beer, which they will.
3. Freedom From the Draconian Rule of Cable Providers: Know what’s not cheap? Cable television. What’s more, it’s difficult getting it in a dorm room. Hulu Plus will let you access your favorite shows with little-to-no fuss.
   

The Argument Against

1. Ad-supported: You’re paying a premium, and you’re still stuck watching advertisements before, during and after shows. Unacceptable.
2. Netflix: Looking at the current crop of announced Hulu Plus shows, you’ll notice a substantial overlap with Netflix’s catalogue. For the same price, you’ll get much more television content on Netflix and access to an even larger stockpile of movies.
3. U.S. Only: Even Canadians are left out. For now (and possibly, forever), Hulu Plus will be offered to U.S.-based customers only.
4. The Napster Effect: Taking something that is free and making it subscription-based doesn’t work. Just ask Napster.

While it’s too early to tell if Hulu Plus will succeed or fail, one thing is certain: they’re fighting an uphill battle.

Check out the announcement trailer below: