I also use the Godaddy service. The domain is registered by proxy, so your personal details are not visible in the whois search. I don’t remember the exact terms and conditions I agreed to, but for a really valuable domain name I would make VERY sure first that the proxy cannot in any way claim ownership of the domain.
I feel pretty safe using the Godaddy service considering their reputation, and when you sign up for it they do state that you remain the legal owner of the domain. You can remove the privacy at any time from the domain manager.