It's pretty cool. It won't have all the new releases instantly, but if you aren't from around here then there's a good chance everything is new to you, so that won't matter a whole lot. And it's missing some must sees in pop culture, but it kind of makes up for it with some of the random stuff you can end up watching.
You should! They have a pretty wide selection of stuff. Just, uh, don't ever watch Bridezillas. It will probably make you want to punch people.