I only taken tours with the 2 main competitors to Friendly Planet - Gate1 and SmarTours (never Friendly Planet just due to their availability/price at the moment I booked). Both have been good in relation to the value. Your trade on such a trip is a lot of time on a bus, but you will cover much more ground than on your own. I've felt that the groups are to big in general to receive good advice from the guide - such as small authentic restaurants to eat at. On plus of the Asian tours is the hotels should be fairly nice - in Europe you end up with more basic hotels.
My attitude is that the group tour might not meet your goals 100%, but you could always go back and at that point you'll have the major sights knocked off.
Assuming the price is a priority for you I would recommend these packages.