It actually looks pretty fun…I can't tell if the selection is any bigger than on the regular Audible site (where you can still get kids books). It does seem as if you have more ways to search for books…by categories, age, grade, series, popular characters and award winners.
And yes, you do use the same account for making purchases for both Audible and Audible Kids, so there is no new fee or anything new to join. If you have credits on Audible, they are available on Audible Kids as well.
I have only poked around a little bit, but it looks like lots of fun stuff. Although I can't say that I could ever bring myself to buy an audio version of a good picture book (like Where the Wild Things Are)…even though it is not expensive (many are only $1) it still seems a bit of a waste for a 5 minute audio book! Not to mention not getting the wonderful artwork.
But there are tons of other books that I would definitely consider owning. Much of my audio book purchases are kid lit…for both the boys and myself.
I have been a member of Audible for over 2 years now and I have to say that I have gotten some awesome deals. They frequently run promotions and sales (in fact I have $10 waiting to be spent that I got for using 4 credits in March…I had a couple of items on my wishlist that I had been waiting to purchase, including John Adams by David McCullough which was on sale for only 1 credit (regularly $48.96/ 2 credits))