My newlywed son-in-law bought my daughter's engagement ring and wedding band set from Bluenile, and they had a wonderful buying experience. We find Bluenile trustworthy and their products sound.
Personally, I think BN is good for diamond jewelry, but not for other products especially pearls. For diamond jewelry purchase, I always check BN's price and products for reference purpose. Before you search BlueNile for their diamond jewelries, make sure you learn all about diamonds from pricescope.com first. This way, you can intelligently decide for yourself how to maximize your purchase power by prioritizing the C's that are important to you.
Some important learning I picked up from visiting pricescope.com are as follows:
1. Cut is the most important of all C's, because ideal cut stones give off the most sparkles.
2. GIA grading on cuts is not very meaningful. It does not take into account the relationship of the crown and pavilion angles for maximum reflection/refraction. The GIA measurements are rounded off, so a diamond rated as having an excellent cut may not sparkle as much as an excellent/ideal cut diamond should. Thus, you may be paying a premium for an "excellent" cut diamond but actually getting an above average cut.
3. I need to first screen diamonds for excellent cut by calculating and confirming HCA < 4. Next, I need to check idealscope, ASET reports for best daimond performance (fire, and sparkles).
For additional details, check out the website of pricescope.com.
As for discounts, BN often gives 10% discount on diamond jewelry (except loose diamonds. For loose diamonds, the only discount one can get is 1.5% if paid by bank wire.