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ehh, depends strongly on the region and how into cars you are.
I disagree with Tom, Panorama is a terrible magazine and after about 5 minutes of looking at the pics, it goes in the trash.
Some regions are very active and do good events. Others are more sit and chat oriented, which can get old. Some regions the track events are like the wild west while others are like nazi germany. Its very region dependent.
Further, if you like the occasional chat about cars, I think its more interesting to go to the local cars and coffee where you get a variety of cars, not just porsches.
I became a member solely for the discount on track days, I have no use for the other stuff.
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