I have purchased almost all of my notions (cutting boards, gingher scissors, Olfa products,etc) from Joann Fabrics. I also buy my batting (warm & Natural)by the bolt from them. They are FANTASTIC when you buy from them when they are on sale or with a coupon.
So for those items I really love Joann Fabrics.
When it comes to their fabric.....not so much. I will echo that I think a lot of their fabrics fade terribly, even after the first wash.
My other opinion is that if you have a LQS you should try to patronize them as much as you can. They are a local business and I feel the money I save from getting discounted notions and batting, I can apply towards thread, fabric, and other items from my LQS.
In a way the savings I get from Joann Fabric, allows me to spend more money at my LQS, and keep them in business.
Just my opinion. If I had an endless supply of money I would purchase everything locally. But I don't so I need to save where I can and spend smartly.