Its not a "club', its a magazine subscription. With my last renewal of F&S I got a pretty cool ammo bag, but NAHC only sends out token junk. However, I LOVE the magazine, so I joined. I ignore everything they send me except the mag and its worked out fine for me.
As far as the magazine being one big advertisement, I get F&S, Petersons, Outdoor Life, and North American Hunter is my favorite even over those. Its actually really good. Lots of Africa, Alaska, adventure, and local hunting. If you like the magazine, its worth it. If you don't like the magazine, don't join unless you want to "field test" a hunters notepad!