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$999 the first time to get the right to register at $6.59/domain but on Registrar transfer you get already $6.59 on your first credit of $99 I think ...
I am using Cnobin.com, its online support is excellent. Its reseller program (VCP B-mode) also very good. You will get a turnkey website, and you can resolve you domain to the site's IP ranther than redirect URL.
Yes, $999 is a deposit and you can spend them until the last cent, no fees; it's a very good Registrar, we've already transfered there a first lot of over 80 names while we're already planning a second bulk transfer in the next few days.
No, honestly we've no problem with them and we're also very satisfied by the high quality of their service and prompt support.