I almost signed up with this service, having found what I can only imagine were planted reviews on the web talking about 'free' books. Or, nearly free, at 99 cents each.
The recurring payment is a bit hidden if you are not careful, and this is the only way to read the books. After reading a few more reviews of the site, I've found it to be quite shady in it's practices. I'd steer clear. The prices for e-books are very high, even unfair - the reality is it costs virtually nothing to re-create an e-book. No printing, distribution or storage or handling, however they still want nearly what you pay new. To be honest, I'll keep buying them at flea markets for $1.00. Let someone else pay $25 for a new hardback - they will have it for sale in less than a month, and it will be in my library. I guess I'll just have to scan them for my personal e-reader.