Anyone good with websites and domain registration?

I'm tackling with this GoDaddy hosting. They have this extra "WHOIS" thing that they want you to register (after picking your domain name) which apparently protects your information. Should I go for this?

Is it worth paying for the "private domain registration" thing?

I feel like a fish out of water with this domain stuff, if anyone could help me with this query I would be very grateful.

Thanks.