I've used it do download some of the D1 rounds. I think it's pretty awesome that I can download this stuff and watch it via the PS.
And no, you can't get it elsewhere without paying, that's the point. Instead of paying £10-15 for a DVD you pay £2.40 for a digital copy which you can download and watch on up to 5 PS3's, for a whole year. Most of the videos are at least an hour long, so it's not like you are just downloading a short 'clip' or whatever.
The pricing seems pretty reasonable to me, bearing in mind whatplaces like Blockbuster and 'LoveFilm' charge.
That#s what I did. Started with the first round of D1 from '08 and now, whenever I get a little bored and feel like watching something, I hit up GTTV. If you are only getting one or two a week, it's pretty good.