The bad side:
Bottlings are quite expensive, and do not appear to be priced in line with other IB's. (e.g. US$125 or GBP61 for a 10 or 11 year old malt is a bit rich).
The good side:
* All bottles are non-chillfiltered and contain no caramel
* All bottles are single casks and bottled at cask strength
* Bottlings come from well known and not so well known distilleries. Opportunity to drink from many silent distilleries too.
* Bottlings generally vary from being just plain good, to absolutely stellar. I cannot recall tasting a "bad" bottle, and I've probably sampled from over 30 in the last two years. In other words, quality control is pretty good.
* Meetings are a great opportunity to sit and discuss your malt enthusiasm with other like-minded people.
* If you happen to live in the UK, the facilities and club rooms, etc, are at your disposal. (Obviously, we non-UK residents don't really get to take advantage of this).
I enjoy my membership, unfortunately my wallet doesn't.