I had an account with them for a while, it worked as advertised and I watched a lot of stuff I wouldn't have otherwise (Like the animated Starship Troopers series).
I only canceled it because I never seemed to have time to watch the movies and I was paying $10 a month for 2-3 movies that just sat on my table. Funny thing is, when I rent one locally, the same thing happens, but I spend $10 in late fees.