At one time or another, I have belonged to or do belong to a club. Among Atlas, Lionel, MTH and Weaver, which one(s) give you the most bang for your buck and why?
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I've belonged to the LRRC for several years, but will let my membership run out. There hasn't been anything I have wanted for a while with that club. If something interests, I will rejoin.
I joined MTH's club last Nov. it is now almost 1 year latter and they still can't get their member section working for new member. So that club has absolutely nothing to offer IMO. Emailing them doesn't help and, of course, they want me to renew my membership.
Earlier this year I joined Weaver's club to get the Indianapolis Power & Light 4-car set of hoppers. These are very nice.
I joined MTH's club last Nov. it is now almost 1 year latter and they still can't get their member section working for new member. So that club has absolutely nothing to offer IMO. Emailing them doesn't help and, of course, they want me to renew my membership.
Earlier this year I joined Weaver's club to get the Indianapolis Power & Light 4-car set of hoppers. These are very nice.
MTH probably is the most cost effective if you plan to order upgrade kits (PS/2, presumably there will be PS/3 in the near future). The cost of the membership, including the car, is about the cost of the car. I haven't renewed the MTH club lately, but as soon as they start taking orders for the PS/3 kits I'll join the club and order a bunch of the kits at the club price.
Weaver usually throws in some kind of knickknack, a shirt, a pocketknife, something like that.
Atlas has periodic offerings of special edition locomotives and cars that are available only to members of their Golden Spike Club. They are batting about .500 on desirable club cars vs. not so desirable.
I've never figured out what the Lionel club membership is good for. Near as I can tell it's just a quarterly magazine and you get their catalogs in the mail. The magazine is just an ad flier and I can download the catalog for free.
I decide which club to join based on the annual club car. If I want the car, I'll join the club. It's been pretty slim pickings the past few years. The last Atlas club car I actually bought was Bellingham Bay Brewery in 2010. Last Weaver was Stroh's Brewery, two or three years ago. I can't even remember the last time I saw anything from the MTH club I wanted. The last one I even considered was a Premier UP drop-bottom gondola, quite a ways back. Most of the recent cars from all the clubs have been positively hideous. Lots of flag stuff and billboards for MTH products. Some people drool over purple tank cars; I am not one of them.
I think that everyone will have their own take on this question.
As for me, I am or have been a member of the LRRC, MTHRRC and Atlas Golden Spike Clubs. All have decent offerings as far as club cars and accessories go. MTH has the widest variety in that you can pick the type of car that appeals to you (RailKing, Premier, O tinplate, standard gauge, etc.). Atlas occasionally offers their unbeatable reefers, but they also offer a selection in the Industrial Rail line for the non-scale people. Most of Lionel's offerings are in the Traditional (non-scale) line, but Lionel's club newsletter is the best of the bunch as it offers more in the way of content.
Andy
I'm a member of the LRRC, and I think that it is great value. Having the catalogues mailed to you is always something to look forward to, the magazine is very informative, the club offerings are great value, and the 10% discount on on-line purchases can pay for your membership many times over. 
And on top of all of that, you receive what must be the world's biggest membership badge.
I collect the Lionel LRRC annual Christmas boxcars, so I have the membership so I can purchase the boxcar. The magazine is OK and also receive catalogs.
