After years of waiting. Netflix finally works with the baseline install (and apt-get dist-upgrade) of Ubuntu 14.04 LTS. Additionally, the performance seems to be much better than Silverlight plugin on Windows 7.
I also installed a few packages from the blog article posted here: http://www.omgubuntu.co.uk/2014/08/netflix-linux-html5-support-plugins
The post at the link above is by far the most thorough and well documented guide to configuring Netflix to work with Ubuntu. I did have to reboot my system after performing the steps, otherwise Netflix throws an error which I now cannot replicate to provide further information.
Thanks to the perseverance of the Ubuntu community, Netflix is finally supported and the Ubuntu distribution is going to get a lot more footing in the war of operating systems for desktop PCs. Since it's still free, I'll be sticking with Ubuntu before spending any money on a Windows operating system.