Not worth the annual fee in my opinion. Been there, done that, don't even have a t-shirt any more.
With a $2500 yearly fee and a $250,000 minimum spending limit per year, and all you get is concierge service (which the rich and powerful should be able to get from other sources, such as their own entourage), it seems like a bad deal. However, the value seems to be in the screw-you-because-I'm-richer-than-you-are statement that it makes on the more impressionable people amongst us.