In March World was offering 5.56% APY on its 10-month Internet CD and 5.51% on its branch CDs. Sorry to see the rates lower now, but this is common at other banks also.
One note about the Internet CDs, you must open the CD online and fund it by check. It's not available at the branches, but you can choose to deposit the check at a branch. You can also mail the check. If you open a World CD, you may want to consider World's Free Checking Account (see post). This makes it easy when you want to close a World CD. You can just call and request that the CD funds be transfered to your checking. You can then initiate a transfer from an online account at another bank to withdraw the funds.
World Savings and its parent, Golden West Financial, are undergoing a merger with Wachovia. FDIC insurance is stil listed for World Savings (FDIC Certificate # 27076).