I was an affiliate of both ACM and IEEE-CS. I never saw the value of becoming a fully paid-up member. The fees are really hefty, especially IEEE. It seems to me that you get much more value out of it in the US (like financial services) but no such goodies exist elsewhere on the planet, which makes it less than interesting.

The ACM rag Communications is quite good, The IEEE rag is so-so (the ones you get by default with the subscription). I've subscribed to half a dozen IEEE-CS journals over the years but found them way too academic and out of touch with the real world. Give me DDJ any day. This year I let my IEEE subscription go. The only thing I really miss is The Annals of the History of Computing which I hold in the highest regard.

These days I get all my tech current events from the Web. Right here, even, like Tilly's post yesterday pointing to Beating The Averages. I stuck at the ACM for two years, IEEE for maybe six... but when it comes down to it they did nothing for my career nor for my education. I would not recommend them.

On the other hand, I would be interested to find out what people's opinions are on more specific-interest groups like Computer Professionals for Social Responsibility.