I joined for free via Fairmont Presidents Club in June 2004. That gave me membership through June 2005. I paid $19.95 to extend a year (through June 2006) and got AA bonus miles at ~ 1 cent each IIRC.
So I'm still a points.com member but will not renew when my membership lapses in 7 months.
I wouldn't even pay $19.95, let alone current prices. (If I could still earn eBay points for Priceline bids and then transfer those points to CX I'd be happy to pay the $19.95, however.)