If you’ve been mulling over a Hulu+ subscription or waiting for the elusive preview invite, you might be interested to know Hulu+ has exited preview mode to officially launch and has lowered its price from $9.99 to $7.99/month. The two dollar decrease is likely attributed to Hulu trying to compete more with Netflix, which has made clear they are shifting towards a streaming-based service as priority, as users continue to use the DVD-by-mail feature to a lesser extent.

You can download Hulu+ in the App Store for your iPhone 4 or iPad. But what about those of you that have already been using Hulu+ at the original price? They have good news for you, too…

Hulu emailed current subscribers to inform them they would receive a $2 credit for each month they’ve been a preview subscriber. Since they launched the service back in early summer, that can amount to a free month for some, or at least a hefty credit.

I’ve been using Hulu+ on my iPhone 4 since August, and I was actually on the verge of canceling. I’ve been disappointed to find out a lot of current shows’ previous seasons have now expired, but canceled or ended shows are still fully available (except LOST, which is missing the last season since late summer).

I will probably keep my Hulu+ account until the credit is used up, but I really don’t watch enough old shows to justify the expense. Maybe new contract negotiations with studios will change that, but I’m not holding my breath. But if Hulu+ becomes available on Apple TV … yeah, I’m not holding my breath for that one either.

What do you think iDB readers? Does the lower price mean you’ll be trying out the service now? Or are you happy with the current, free content they offer?