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There was a point when I was so obsessive about applications that I had to read every piece of material that I could get my hands on from a school. The MBA insider give you access to some interviews from adcoms and the like. There really aren't any secrets there. I just couldn't handle the mystery of not knowing what the insider contents were. The example essays weren't bad but I had already written all my essays, and I think other books that talk about essay strategy and give examples are more useful.
On a whole, you can get just as much inside info from reading this site and other free sources.
I agree with cnc2. I signed up for it and I found some of the content very interesting. The most valuable are the interviews with admissions officials. They also have video interviews with b-school related people. It was a good way to start the process of learning about schools.
For some reason, I have generally avoided BW throughout this process, but I did find the US News & World Report special access section helpful. It's cheaper - just about half the price.
I know that there is always argument about the various ranking systems and whether they're any good blahblahblah. I liked the US News stuff because it made it really easy to compare basic data about schools. You can pick up to 6 schools and get an at-a-glance table that shows average GMAT, miles from home, salary info, acceptance rate, etc etc. I liked being able to see that info easily once I had narrowed down my portfolio.
I also appreciated the specialized rankings. I probably wouldn't have applied to Duke if I hadn't seen that they were in the top 10 for nonprofit management.
I would say that I favor the US News rankings. As others have pointed they, the US News rankings tend to reflect what applicants would actually choose when making a decision. In other words, H/S at the top followed by W. The ultra-elites basically at the top, with just Columbia a little out of step; and so on.
On the other hand, I think that BW has more relevant content. I purchased a copy of US News for the rankings (including the specialties), but I signed up for the BW online service.