Yeah, I'm still not sure. I've purchased a year, but I have yet to make it to a meeting at the local chapter (mainly because I hate this area I live in). Maybe once I move back home I'll get more involved.
I keep it for the towing, and entry into certain events. I don't participate in anything else. I've used it for the rentals, and yes, it will save you some cash. You can get a discount on AT&T mobile services and Best Western hotels when traveling in the States. I don't know what benefits are available on your side of the Pond.
joined for a little while, went to a local chapter meeting, when they found out i had a v rod you would have thought that i crapped on the thanksgiving day table! really no benefits that i know of, waste of money
Found out the other day they no longer give you 10% discount at dealerships on parts and stuff. The Magazine is actually very good, I thought it would be more American Iron crap and the like but its not, its got some really good photographers and interesting articles from time to time, not just "Send in picts of you and your Ole Lady" crap. Get free towing through the Ins Co so never needed that. I know Her membership just ran out because the bike is a year old now so I dont know how much it was but its more than the MAg is worth I would imagine.
It's likely that if you're of the mentality to buy a V-Rod in the first place then you are NOT of the mentality to be hanging out at the meetings. Go visit one and see for yourself. It's all vests and pins and rules and pins and rules and pins. I'd rather be alone than hang out with a bunch of fat old men who, from what I have seen, ride dangerously below the speed limit (and yes, IMO where I live, riding below the posted speed limit is dangerous). Many of whom don't drink, cuss, chase women, talk smack, or any of the other normal heterosexual male pursuits in life. No Thanks!
Re benefits, I suggest you get in touch with folks from your local chapter to see if you'd like to participate in their activities. Your local Harley dealer will have contact info for the local chapter.
I am a member and have been for over 17 years. I initially joined for the discount on parts and service but that went away many years ago.
Only you can decide if the benefits are worth the cost.