I have done a little bit a research on this. I will go ahead, and post the links.
http://www.type2gaming.com/console-gaming/my-year-with-gamefly-is-it-worth-it/
http://www.ign.com/boards/threads/is-gamefly-worth-it.453460645/
http://community.us.playstation.com/t5/PlayStation-General/Is-Gamefly-Worth-It/td-p/45278949
There are a few cons, and pros with the service pretty much.
- Varrying on how close you are to a Gamefly Indurstry you will get a game in either a few minutes, or a few weeks (A quick Google Search of "Gamefly", and looking on Google Maps may help you see how close you are to a store/Indurstry.)
- The one month plan is very pricy, however if you go with a three month plan subscribstion you may be able to save more.
- You have to pay for the game while it is being shipped to you, (Every so X days, or every week.)
- Unless you are playing a game that mainly features no online play. It may be worth buying a subscribstion. That way if you ever hate it you could just send it back, or once your done your able to just have them pick it up for you. (I don't really know how the game pickup system works, I'm assuming you have to travel to the Indurstry/store and bring it to them, or just mail it back to them.)
- Longer games are not really worth it as you may be paying more money for the game compared on how it's originally priced at places such as Target. That is if you plan on keeping the game while renting it.
- The service is good for new games mainly coming out if you cannot afford them, and just want to play them for a X amount of weeks/days.