I too have the unlimited visits version of Priority Pass and love it. I paid the full $295 for it, but even that is less than most single airline club memberships. They've just added US Airways lounges to the growing list, including Northwest, TWA, and Delta (except certain lounges at Delta hubs). The card works great at my main airport (PHL) b/c I can get into the USAirways (terminal B & C), Delta (terminal E), and Northwest (terminal E) clubs.
I've never been turned away b/c of capacity restrictions and would think that would be some sort of breach of the agreement that PP would have with the club. If that happened to me, I'd call PP about it and complain!
I'm not sure if there are any benefits you get with a normal club membership (those that participate) that you don't get with this. I've even been able to check-in at a club just like a "normal" member would. One thing is that you must pay for any guest you bring in. I believe the fee is $21.
I think this membership is worth its weight in gold. And no, I don't work for the company.
