I have just set up 8 different pop accounts on my new droid, 5 of which are with Go Daddy. Spoke with VZW tech support and outbound needs to run through gmail smtp server, not godaddy's. You need to set-up a g-mail account first, even if you are not going to use it. Here are the outbound settings:
SMTP server: smtp.gmail.com
Port: 465
Security type: SSL(accept all certificates)
Require sign in: checked
Username: full gmail e-mail address
Password: gmail e-mail account password