[geeman]

I was once a Magic Kingdom Club member thanks to a work related affiliation. We were afforded some pretty nice discounts over the years. I remember especially steep discounts in the mid- 90's for the water parks and Pleasure Island.
When it turned into the Disney Club, I couldn't see justification in paying for it, since at the time, I had actually taken a break from visiting WDW as much as I had previously. Wish I had kept it up, as it would have saved some major dough in the past two years.
However, maybe the Disney Visa will prove to be an effective replacement. They've managed to make it feel a little bit more like a "club" than the average credit card, I think.