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Magoosh is a really affordable, easy to use, even fun prep site for the GMAT. Each question has a thorough, easy to understand answer explanation in both text and video form. New tests are automatically generated, so I was able to take a test each day for 2 months leading up to my exam. When I started I was probably at a 650 skill level and I ended up getting a 750.
The only complaint I have about Magoosh is that the questions, especially in the Quant section, are slightly easier than the actual test. They do offer a selection of "Very Hard" rated questions that are good to practice with, but there are too few of them. For example, there were only 3 Very Hard Algebra problems.
I would highly recommend Magoosh to anyone studying for the GMAT, but I would recommend complementing it with another resource, like a Kaplan book, or practice tests. I would also urge Magoosh to add to their question bank, especially the Very Hard questions.