iPower is offered .com, .net, .org, .biz, .info, and .us domain registration for $2.95 for the first year. This seems like an excellent deal to me, and their web hosting offers seem pretty good value too.
But that’s not the best deal I’ve seen recently. That award goes to Dotster who are running a happy hour on March 22nd, between 1pm and 2pm Pacific Time. During the happy hour, they’ll be offering 1,000 coupons for $1/month hosting (normal price is $8.95/month for this particular hosting package), and it includes, among other things up to 2GB of storage, and hosting for up to 50 domains.