My wife and I are doing a study with our Adult Bible Fellowship right now from Precept ministries, the videos are pretty good on the Marriage without regrets material we are working on, the Bible study workbook is not exactly the way we prefer to study, it is a system that should work, and the Bible study portion of it is decent, although, I would say that at times, they are asking people with little skill in word studies, language studies, etc, to make educated guesses about the text, I prefer to go right to the tools, Bible dictionary, Concordance, Greek Commentaries, Regular Commentaries, I find it works better for me. Also, Kay Arthur asks some questions that IMHO can be way outside of the scope of the text, ie. taking certain passages way out of context, but that It really isn't on the main points, some of the peripheral issues. Inductive study is OK, just not my preferred method. Plus it can be a little overwhelming to finish the lessons together, with 2 kids, a Job, plenty of Church ministries, and the usual other activities of life. The study has given us a few interesting questions to discuss, but we talk alot anyway about all kinds of issues, so most of the ground in this particular study we have covered before.
Bottom Line, I would not give Precept an overwhelming endorsment, neither would I discourage you from using it.
Just don't view Kay as the expert, and get a second opinion if there is a question and you'll be OK, I have seen very little in her studies to indicate a whole lot of Biblical Language ability on her part, and that I think is the place where most of her offshoots occur