Yes, it is legit. But while you only have to pay $5 for the first 5 movies, you need to buy 5 more at MSRP (though you do get a chance to get a discounted 6th and 7th movie when you first sign up) before you can cancel.
Thanks DNukem, I knew there was some sort of catch, but couldn't find the fine print before it was asking me to sign up, address and all. Guess that's why, but assuming MSRP for a new blu ray is $30, it still averages out to 15.50 a blu ray so not too shabby.
You don't have to buy 5 more at MSRP. at least not from the method I use (see below). You buy 6 or 7 when you first sign up, and you just have to buy two more to complete the agreement. This works out to less than $10 per movie for 9 titles.
Read this post of mine for more details: http://www.cheapassg...579&postcount=2