Some insurance brokers (classic car policies mainly) will give a discount if a member of a recognized car club.
However this is usually about the same as the club membership, so effectively you are getting the club membership for free!
I doubt club membership benefits are much different to when you were a member, so if you didn't see value for money then, then you probably wont see value for money now.
Was there a reason you bought an MGF other than for dodgy transport? Nice Springer by the way.