Yes it's definitely a good option!
Full course Religious Studies is compulsory at my school (we're a Christian school), and we do the OCR B Philosophy and Applied Ethics course (our school starts us midway through Year 9, I'm now midway through year 10). It's really interesting, and relevant today. I'm not a believer myself but it's widened my views as although the course mainly focusses on Christianity (well ours does anyway) our teacher always covers the same topic but from the viewpoint of another religion. And you get to mention your own viewpoints to access higher marks as well. I would definitely not say it's a free A*/A to whoever said that, because you have to work goddamn hard to get those grades, as boundaries are high. It's a lot of hard work but we were told it will look good in the future as it shows you can argue your points (OCR e) questions require this in essence) and keep a lot of points compacted into a *relatively* short answer. (As in, you have to make sure you back up all your points and don't write too much.) It also adds breadth to your subjects. I think it's a great option, because if it hadn't been compulsory for me I probably wouldn't have picked it as the image of Religious Studies isn't great in the minds of today's young people (including myself) but I'm learning a lot which I wouldn't have gained otherwise. My view of Religious Studies has changed dramatically since January 2012 when I started the course. Pick it, go for it, if you don't like it then just try your best and at the end you'll be able to say you have a GCSE in Religious Studies which is great.