I'm a ADC student developer. There's a mailing each month with one or two discs each time.
Some of the content (development kits and electronic documentation) is available for download for all ADC members, including free Online members. But this way I don't have to download the recently updated dev tools with WebObjects trial (180MB). It will arrive in my next mailing. (I have already got the old devtools.)
Other discs are not available for Online members. I have OS 9.1 in several languages and the original OS X cd. X was updated with more languages recently, I guess I'll get that, 9.2 and 10.1 some time this summer. But I haven't been a member long enough to know if Apple always sends out new System Software. Note that pre-release software is (normally?) not included.
There is also a once-per-lifetime hardware discount (approx 20%) . I'm not sure how that compares to educational prices.
I think it's worth the money, even if I could get most of the software by using Mac-Up-To-Date and downloads. All programming documentation, except some marketing info etc, is available on the net too. No documentation on paper is included. I use the printers at my university...
