I think the privacy service is overblown. The information that is shown is an email address, mailing address and a phone.

If you own a domain then you have an unlimited number of email addresses. I use one address just for domain registrations and assume everything received from that address is spam.

There are quite a few companies that sell PO Boxes. It is best to get one with a street address. Oddly, you will find many property management firms will sell access to mailboxes in their buildings if you are nice to them.

I got an extremely inexpensive prepaid mobile phone for the phone number. The phone is very handy.

Having good contact information in the whois database will increase sales and web traffic for a site. Quite frankly, I don't like doing business with sites that buy privacy services.

As for using GoDaddy, I don't like that they block users from their whois database.