If you're going to buy more than a few small items from them, it's definitely worth it.
I've placed one order so far. My final price was around 650.00 which was a savings of 75.11 over their regular prices. In that one order, I saved enough to pay for the VIP membership for about 3 years. I saved 20.00 on one single item, a set of Kuryakyn highway pegs.
edited: I had mistakenly used what they print on the bottom of the invoice about your savings in my original posting. As I looked at it, it seemed high so I went back to their site and re-entered my entire order without logging in. I've changed the savings numbers above to reflect the accurate amount. Apparently, the amount they print at the bottom of the invoice reflects your savings from MSRP, not only from your VIP savings.
Hoss