GoDaddy does not seem to have the best reputation. Occasionally, I hear people complain about their service and hosting accounts. Some people refuse to use them. But for low-cost, easy-to-maintain domains, Godaddy is my registrar of choice. I usually register my domains with Godaddy and then host the websites elsewhere.
If you are going to register a domain name via GoDaddy, make sure to do a search for "GoDaddy Discount Codes" on Google. You are likely to find many ways to save, 10%, 20%, 30% or more. One website that seems to have many valid discount codes is: FatWallet. I just used one of the codes listed there to register a .com for $7.49. It doesn't get much cheaper than that.
cheers - Ryan
(please note: none of the links above are affiliate links. I just wanted to share these resources with you.)