It's TOO expensive. Many of my clients are smaller businesses, startups or nonprofits that simply can't $1000+ to issue a press release. They charge extra for everything - images, word count, you name it. Trying to get everything in a 400-word release can be tricky and they charge extra for going over.
Also, I had an excellent account rep for a long time who would waive the annual fee - no longer. We shouldn't pay an annual fee when we're already paying too much for the service itself. Ridiculous.
Be careful - be sure to check out other services, like PR Web, for a lower cost alternative. Business Wire is the same as PR Newswire.