While the GoDaddy seal does all the things mentioned here, from an eCommerce prospective certification clearly displayed in check out navigation does increase conversions.
If you can't afford Verisign or any of the other popular assurance logos, then the GoDaddy seal is okay.
I use it only on my core top-level sites and have tested it on long-form opt-in. The seal provides better conversion than no seal, however, any assurance seal works equally well. Getting the seal really depends on what you are doing with it.
Best,
Justin
Ps. I haven't tested making up your own "Assurance Seal" and linking it to a pop-up which displays a summarized version of your privacy policy. I suspect if you make it look official enough, that seal will be just as good as GoDaddy's. Test.