I took the school of PE online course and passed on the first go around.
Just know it's not a webcam class, it's a webinar so everyone is in an adobe connect session and it's like watching a presentation where the professor can write on the slides.
It was kind of nice because you didn't need to commute anywhere, so the time you would spend commuting you could spend sleeping or studying. I really liked that I could roll out of bed a half hour before class, eat some breakfast and still be in class with time to spare.
If you go this route make sure you have a dependable computer and a comfortable desk chair. Know that you'll need to print out all the notes they give you, and it's alot. I only mention that because I'm uncertain if they give you the printouts at the in person classes.
The only critique I have of this method is that sometimes it can be a little cumbersome to convey your question over the chat, however the professors are patient and normally stay long after the course is over to answer any lingering questions.
Whether or not School of PE is better than Testmasters, I cannot say. What I can say is that School of PE does a good job, and I highly doubt I would have passed on the first try without taking the course.