Really kind of surprised that NameCheap doesn't get more votes. It's so painfully easy to transfer domains with them. Their user interface is very user-friendly too!
Well NameCheap was my first registrar when I joined domaining less than a month ago, so I can second you here. I had a very good impression of them at first. Before signing up, and knowing nothing about domaining, I googled extensively and from the internet it just seemed like NameCheap was the good boy of domaining, and GoDaddy was the bad boy with their pushy nature, bad customer service, many complaints, etc.
Now it's been more than a month using both, and a few others... And I feel my opinion changed. The big downside of NameCheap - they don't have any advanced domain management tools, so any changes you want to make take
a lot of clicking to add. It's also much more difficult to organize domains. For example, on NameCheap you can't have a simple table and see where each domain is parked. For everything, you have to click manually, and the menus load slowly. Best example, you can't see which domains you have listed on their marketplace and for how much. You have to go to every domain individually, scroll down, select MarketPlace, then select edit - only then you see the price. Repeat the same for everydomain. Overall, it seem like NameCheap is good if you have 2-5 domains, but very quickly gets overwhelming with more. GoDaddy, on the other hand, gets better the more you use it, and also loads much faster than NC.
Other downside - you can't cancel domain registration on NameCheap, while on GoDaddy - you can ask for refund in the first 5 days. This helped me a lot in the first few weeks, when I was hand regging a lot of crap. And it's always a nice touch to be able to ask for refund.