As I have mentioned before in this weblog, I heartily encourage joining SIGACT, the ACM Special Interest Group on Algorithms and Computation Theory. You get the SIGACT News, discounts on conferences and as I discovered last night from home, you apparently get online access to the STOC proceedings. Not to mention supporting the theory community. All this for the low price of $18 ($9 for students).
What about the ACM itself? I have been an ACM member since graduate school since I feel it is important to support the main computer science organization. But for the additional $96 ($42 for students) there are no real significant benefits over joining SIGACT alone.