Are private domain name registrations worth it?

I'm just wondering if it's worth it to use these privacy features available from domain name registrars. My thoughts currently are, if the company providing this service goes bankrupt, then the domain is technically in their name and you may not be first in line of their creditors (although it would be pretty slimey to steal people's domain names that way).

Comments

I should also mention that I found a website called TLDcoupons which seems to offer discounts for a number of different registrars.

Although their name is on the WHOIS, the registar still has you as the "owner" of the domain name.

But ICANN wouldn't, and you might not be first in line of creditors for a particular domain registrar in case of bankruptcy. An unlikely scenerio, but plausible.