Yes .. they do send a lot of material I don't care for. But if you are a student, it is definitely cheap and worthwhile to join. As a professional, you have to make your own call .. I pay for it because I feel the money goes to conferences, student subsidies, etc. (not really charity but I feel like I am paying it forward). You get discounts at conferences but my employer pays for those anyways.
I did find it difficult to unregister from ACM SIGs (Special Interest Groups), had to press on through several screens to get to one that let me unselect them. That was obnoxious, but only resulted in my being a member SIGGRAPH one year longer than I desired and being out $20 or so, interesting reads but wasn't an active pursuit or career-wise applicable topic anymore.