YES. Why?
1. As said by a number of others, being a member of the club is the biggest opportunity for you to be involved with, and show your support for, the Club. I'm not exactly well-off financially, and I've been a 12-game member for a number of years, and even though for various reasons I only made it to one home game in 2009 (having obviously paid in advance for all 12), I don't regret it for one second.
2. Membership is the cheapest per-game option available. Using the two examples you've presented:
Red V Membership = 5 games for $45 =
$9 per game
3-Game Multi-Pass = 3 games for $35 =
$11.67 per game
3. Membership will guarantee you entry even when the game is sold out (a point which the Telecrap failed to mention when they were banging on about fans being "locked out" of games...). Membership also assures you priority access to finals tickets.
4. The Club does give members opportunities throughout the year, as part of its "strategy" to reward its members. These include free events like post-match functions and other events with players in attendance, Red V Member Forums (which are usually quite interesting evenings), and various other well-attended events (such as the Family Fun Days, which I personally find have too many people attend for them to be worthwhile, but plenty of other people obviously see the value!). You can't attend these if you're not a member.
Go on. Do the right thing.