I just tried to use this coupon and it didnt work, I think it might be dead... I found another one for 7.50, its not 1.18 but its better than 10.50 or whatever they are charging now.
Yes, after you register it you can move it to any other registrar, be aware though, People don't like GoDaddy because of the hoops they make you go through to switch AWAY from them... they make it really easy if you want to switch to them.
And I believe that you will still have to pay a registration fee at the new registrar so I would wait until the domain is pretty much up for renewal anyway.
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