I believe I have cracked the math behind GameFly's non-intuitive gift certificate pricing scheme. The "problem" is that each of their pricing packages includes one free month in the calculation of the price and discount. This results in the shortest gift certificate term being the best deal, as the free month is applied on a per certificate basis. Here's an example using their 2 games out pricing:

2 months = $22.95 x (2 months - 1 free month) = $22.95
3 months = $22.95 x (3 months - 1 free month) = $45.90 minus 15% discount = $39.00
6 months = $22.95 x 5 = $114.75 minus 15% = $97.55
12 months = $22.95 x 11 = $252.45 minus 15% = $214.60

GameFly thinks it is offering no discount on a 2-month GC and 15% on the longer term GCs, but because of the built-in free month it is actually offering a 50% discount on a 2-month GC, a 43% discount on a 3-month GC, a 29% discount on a 6-month GC, and a 22% discount on a 12-month GC. You don't have to be a CAGer or a mathematician to realize that stacking the 2-month GCs is the way to go. And by the way, this pricing scheme has been in place for at least a year -- http://www.cheapassgamer.com/forums/...d.php?t=310279 -- so it's not just a pricing glitch in the current holiday sale.