I got an email from Netflix saying that come "mid-July" I'll be able to use streaming from each of my profiles. Now my family of 5 with varying tastes can finally have separate queues and recommendations for streaming just like we've had for DVDs. (Unfortunately, I'll still have all the history of past streaming history hanging around on the main account like an albatross.)
The only part that worries me is the last part where Netflix says a password won't be necessary to switch profiles. Hopefully, that doesn't mean my kids will have the ability to get into the master account settings.