I've actually always assumed that their "stupid deals" were just marketing scheme that 9 times out of 10 didn't really save you much money. But then again, I've almost never bought anything from MF.
I've bought some gear from MF over the years and have been quite satisfied. I got a limited run chambered ash tele with a killer transparent red finish and a tweed G&G case about 3 years ago for a great price--I was ready to be disappointed, but it's one of my favorite guitars. On the other hand, the stupid deal of the day used to offer real bargains on gear that was actually high quality and useful, but now it seems to only offer junk. MF seems to be slowly morphing into GC, even though GC said it would leave MF alone.
I ordered a pedal power iso 5 about two weeks ago from them. It was supposed to be shipped via USPS Priority Mail... so I waited for a week... I called them up and it turns out that it had been shipped by parcel post.