I joined to get the discount from Warranty Direct on the old car. Managed to get it for less than on my sister's Skoda Fabia as a result.
The magazine carries a lot of Total BMW stuff (mainly the hands on) and it tends to be aimed more towards the older cars. Having gone to an open day at a local dealer arranged by the clud I would also say that it seems to be a bunch of old guys with E30s. But then that's more up your street Porsha!
They do have a forum
http://www.bmwcarclubforum.co.uk/forum/default.asp that you could take a peek at to check out the meets etc. Obviously there is the big show this weekend.
On balance I think that this forum offers a better
club for us E9x drivers.