Martin, we've talking about apples and steaks here. One is a web-based only thing; the other has so much more to offer than just a boardroom (and a magazine - and a calendar) - there's Stoneleigh, local area meets, the Speed Series, exclusive offers and discounts on insurance and many other things I could name (see http://www.wscc.co.uk/membership.htm as a reminder).
As far as the magazine goes, I'm afraid I couldn't disagree with you more when you say "the fact the club is spending money it doesn't need to" - it's still the primary source of information for most of our members, not the boardroom. We are working hard on ensuring the content and format of WW is what the members want to read, and Peter Osborne does a fantastic job putting it together - plus there's a growing archive of past issues of WW available for download, giving members a very useful reference library.
Plus this is a club dedicated to a single marque - there is simply no finer place for all things Westfield related. I have saved more than my annual membership fee every single year from following advice given by others. My membership has paid for itself many times over - fact.
I also believe there's something about the club that a simple boardroom doesn't offer - friendship not only online but in the real world. When the chips are down, this club is unequalled in rallying around and helping those in need.
I appreciate that we live in competitive times in a multi-choice world - but sometimes it's also good to remember just what great value we get for our money as well.