That's pretty cool. What will Hollywood video do with all the DVDs? Resell them? I'd think that some of the DVDs that were owned by one individual would be in much better condition that an rental disc that was used by 40 people.
It's good for a $5 credit for anything in the store. Since I don't purchase many dvds anymore (mostly rent) and I hardly watch most movies more than twice, it's a decent deal for me. I'm not sure if you need to be a member or not.