It's true and you will still receive your regular snail mail statements. In fact, I believe there is no option to switch to online statements only. An easy 500 FlightFund miles! Mine posted in about 3 days.

My first impression (five minutes worth) gives them high marks, once you get the past the sign-up process of creating, updating and/or validating your user profile, etc. It allows access up to two prior years of account information and appears to be very comprehensive.
America West Airlines Account Information
http://www.americawest.com/ffonline/