Perhaps, I have been spoiled by Netflix, but so far I have not been impressed with Gamefly. Given the cost, I have decided, at least for me, it's not worth the cost.
To begin with, Gamefly is substantially more expensive than Netflix. The 1 movie at a time plan at Netflix is $8.99 per month and the 2 movie plan is $13.99. In Contrast, Gamefly costs $15.95 for one game and $22.95 for 2 games. That makes the Gamefly one and two game plans 77% and 64% more expensive than Netflix respectively. In my mind, if you are going to charge between 2/3rd and 3/4ths more for a similar service, the value of that service should be substantially better.
One possible criticism of my view is that I am not comparing apples to apples, since renting movies and games are different business. The most obvious difference is on average games cost more than DVD, arguably justifying a higher cost to rent a video game. There are however some mitigating factors in this regard. While I don't have any statistics to support this, it is logical to assume that people return movies much faster than games. You can consume the content of a DVD in 2 to 4 hours, depending on the type of DVD. Whereas, to play through Oblivion for example, can take 100 hours. The financial impact of this, is that on average, Netflix is going to have higher operating costs per subscription, due to increased postage, and labor costs to process those returns and shipments. This doesn't even consider the additional cost (and value to the subscriber) of Netflix's streaming movie service.
However, that is another significant difference between movies and game that must be considered from the consumer's perspective. Other than as a collectible, or a few rare movies that a person just loves, there is very little value to a DVD from the consumer's perspective after it has been watched. However, many games, but admittedly not all, have significant replay value. So a consumer must weigh whether it is worth it to buy a game or just rent it. The higher the cost of renting, the more attractive buying becomes. For most movies, this isn't even a factor.
Consider Lego Star Wars The Complete Saga (Xbox 360), which I just returned to Gamefly. I kept this about a month. This cost me $15.95 plus tax. I could have bought it new for $37.00 on Ebay. I got most of the achievements and played through almost all of the game, but not all of them. I'm out $16, plus tax, but have no game that I can replay.
All that said, Gamefly might still be worth it, despite the high cost, if the service was good. Unfortunately, it is not. In the four months or so I have had Gamefly, I have never been shipped the movie that is at the top of my game list. In contrast, only once at Netflix have I not received the movie that is at the top of my list.
I have been dissatisfied with Gamelfy for a while. However, my experience today is the straw that broke the camel's back, so to speak. Again, I didn't get game that was at the top of my list, despite my first choice, Civ. Revolution, being listed as high availability. They shipped me COD 4, which I think was no. 5 or 6 on the list, and here is the kicker, they shipped it from Pittsburg rather than Tampa! I understand that you might have to ship from a location that is father away to give me the game at the top of my list, but not on 4 or 5 spots down the queue.
I feel like have a given Gamefly a fair chance, but they let me down. I am cancelling my Gamefly account as soon as my subscription is up. From now on, I am buy most if not all of my games off of Ebay's half.com. If I like it, I will keep it. If don't like it I will sell it in a few weeks. Either way, I am better off than paying Gamefly for poor service.