Well the experience I talk from is Qantas Club but still the same sort of thing as we know QF and AN are the same apart from colours of their aircraft and the name.

I got a life membership earlier this year to QC and are still having a severe case of post purchase dissonance (silly marketing course speak http://www.flyertalk.com/forum/smile.gif ). I think it may be in your best interest to put the $3300 minus whatever you need to pay to join and for 1st year into a Listed Property trust or property managed fund. They pay a pretty secure 10%+ here in Australia. Use that to pay yearly as you need to. I say as you need to because, unless you don't intend to fly much, there'll be some years where you'll get the free club access from status. So when I get status now, I will have wasted a portion of my life membership.

I won't comment on the upgrades as I haven't flown enough since the QC membership to know enough.

One thing is for sure - get club access someway http://www.flyertalk.com/forum/smile.gif My ordeal in the US (see trip reports) would have been unbearable if I had to be in the gate lounge with all the "others" http://www.flyertalk.com/forum/smile.gif