I noticed that my favorite bluray ripper started supporting h.265, previously I had been using h.264, so I decided to give it a try. I took about twice a long to encode, and was a bit smaller in size, but 2 of my home computers could not playback the video. H.265 requires quite a bit more CPU/GPU processing power for both encoding and decoding. I personally will stick with h.254 because the cost of upgrading those machines is more than the cost of hard drive space.
If netflix switches they may find that a lot of home users can no longer use the service.