Analise, as a current member I'll try and answer your questions.
Being a Talkboard member uses no more than a half hour a week. Most activities involve reading new posts, discussing outstanding issues and when needed starting the procedure for a vote on an issue.
We usually have no more than two or three outstanding issues at the same time, and offer a two week period to vote on these issues (once the vote has been posted). Talkboard membership fits in perfectly with those of us on the road.
As for me personally I can say I contributed actively to the following:
Advised on introducing the VBulletin voting feature to streamline votes
Participated actively in getting the presidential elections started
Advised on the technical side of the possibility of a fee based Flyertalk service
These issues of course in addition to the "normal" course of action and the day-to-day threads and votes I participated in.
I hope this helps answer your questions.