Their initial prices are always quite low, but I read that they hit you with the renewal prices? Before I get into it too much, is it easy and cheap to move a domain away from godaddy on renewal?
I now buy domains and other services only from ResellerClub after testing all the Registrars. I found that all are cheating the customers in one or another way. RC is most trust-worthy company.
If you want my opinion, don't use GoDaddy. I've heard horror stories from people who didn't pay attention to all the options when bought domains there, and later they were charged for some "services" much more then they could expect.