2011 Update to GoDaddy and WA email forms
I had run into the same issue in the past however I have been able to get Dreamweaver CS5, with PHP using WA Universal Email 4 to work with GoDaddy's hosting solution.
We used GoDaddy's SMTP outgoing email server: smtpout.secureserver.net
and then specified the correct port: 80
This did the trick, no errors, and the email was delivered.
WARNING: Although this could have been temporary, it took nearly an hour to deliver the email! If your emails are time sensitive then you had better think about using another provider. GoDaddy has MANY issues with developing websites using Dreamweaver and Web Assist solutions.