Yes the backorders are like snaps, and maybe I read something wrong with the PowerGrab monthly, maybe it is $7.43 per domain after the subscription, but it surely doesn't read that way.
They just caught Timid.net for me, not sure how good it is, but they missed all of my three letter .nets. Oh well, it's always good to try at $12.30 each though.
Not as many people currently use GoDaddy backorders as do snapnames. Because they have just recently started catching some good names. So there are still alot of names in the on hold category that haven't been backordered. But I expect this to change rather quickly because of the improvements in the last few weeks with their service.