This app was mentioned in 3 comments, with an average of 1.00 upvote
This seems like it might have some promise as far as using another phone as a pointer. Not sure if that's the kind of thing you are looking for.
The RPi can run Kodi / XBMC without a problem - it's easy to make a media server. BUT ... it cannot run Netflix. There are some kludges to work around this.
So, you can either install Kodi, or just run Raspbian linux and add VLC ... I haven't done a lot of this since I mostly like Netflix - and so use an old computer for this.
All you'd need is an ethernet cable or wifi dongle and a HDMI cable to your TV. To control it, add in a Bluetooth keyboard and mouse, or use a Kodi app or the Ucontrol app.
You can either plug in an external hard drive (via USB) or else stream it from another server on your home network or straight from the internet.
Get a case (like this http://ecx.images-amazon.com/images/I/81UPkfIP8iL._SX425_.jpg)
Synergy Project to use the same mouse to controll multiple devices
Ultimate Mouse Lite this should do the trick
//Edit:Input Director Free synergy?