They're money-grabbing bar stewards, that's for sure, but my own experience hasn't been too bad.
I've easily made the £115 or so back in discounts from shopping with an NUS card, so I'm okay with them on that front.
As for content, it's true that some of the modules are horrifically outdated (in particular, PHP, which dates back to 2003 or something stupid). However, the course I purchased had useful learning content for (most of) Adobe CS6, and I'm finding these a great help since I've never actually familiarised myself with all of the features of Photoshop; I just learned what I needed to as I went along.
I'd say the offer's worth it if, like me, you aren't completely comfortable navigating CS5/6, already know what you need to about PHP/MySQL and will benefit a lot from student discounts.
Otherwise, not recommended. The main course content is long out of date, and though there is some helpful info on some modules, it's nothing you can't find online for free. The way the courses are presented is terrible, too. It's a real struggle getting any of the information to sink in.
To make it worse, support sucks since all the company cares about is making money. The NUS card is a vast majority of what makes this only a little more than a complete waste of time & money.