using acknexturk.com on godaddy for many years now for hosting and domain registry, did not have any problems.

for domains it's around $11, but there are a truckload of coupon codes around the internet that reduces it to around $7.69, most works for renewals too, so it's pretty much $7.69/year for domain.

for the hosting part, i guess it's not the cheapest one on the internet but as i said, never had problems with it. Note that godaddy does not use cpanel, they have their own panels. Their panels are very good to0 - only it's something new to learn if you are a cpanel guy. (They also have documentation for every link and button on the panel). Cheapest shared hosting solution is 10gb, unlimited bandwidth, 10 x 1gb mysql databases, 100 email. For emails i use google apps and gmail(but with @acknexturk.com) not the default godaddy mail, so i do not know how good it is.

and according to ICANN, your registrar have to transfer your domain on your request ANYTIME. Transferring to go daddy is $7.49 it also covers a +1 year extension so when you transfer your domain for 7.49 you get your remaining time plus additional year.

You can check download/respond speed of the shared hosting here
http://www.acknexturk.com/blender/ <---(big files)
http://www.acknexturk.com/forum/ <---(regular forum)
http://www.quadraxas.com <---(wordpress)