thanks so much for everyone's enthusiastic replies.
the memberships start at $27,000 AUS per year. it's limited kilometres and limited points to redeem cars but the lineup of cars is amazing.
my dad and myself would share the membership, it's pretty much the only way I'm going to be able to get my 21 year old ass behind the wheel of an F430 in the next ten years.
you all seem to be leaning toward purchasing the car and I think this is probably the way we'll go, but there seems to be so many reasons to go for the membership as well. if only we could do both! maybe a second hand 911 and a year's membership? I think that is the compromise of the century.