I had excellent experience with fedex twice. Both instances were in July 27-28, 2012. One was delivery to Bangalore and other was to Mangalore. both were delivered a few hours before promised. They had given the time in the website as "delivery by 8 PM" but delivered it by 11:30 AM itself. This is the experience in both Bangalore and Mangalore.
Their website does a great job of tracking and you get details for intermediate arrivals. For instance, the parcel to Mangalore was sent via Bangalore and this I came to know through their website. The parcels were bought on ebay and came from dealers in Delhi and Mumbai.
Comparing to DTDC whose tracking system itself does not work, FEDEX is really heaven. Strongly recommend to anyone.