While the overall Ultraviolet sign-up process and its multiple logins hasn't gotten any easier, once we created a ParamountMovies.com account we were able to stream a copy of Hugo unlocked by the Blu-ray 3D version in HD just by signing into the free app (XBL gold subscription required) on the Xbox 360 -- no antiquated discs necessary.
ENGADGET: Paramount Movies Ultraviolet app released for Xbox 360 HD