Lanse,
It has about the same effect on locals here too.
I, personally am not a member of such a club. Just understand why a group might want to make that investment. Not to mention the property rights issues. And if given the opportunity, have and will, to hunt on a quality managed property, I really don't care if there is a high fence a mile or so away. I do care about fair chase and ethics.

Where I hunt is "kind of" symtomatic of what I am talking about. We hunt on a military base of about 10,000 acres. No high fence. We are surrounded on three sides by hunting clubs that don't have high fences either. Pressure here is moderate on deer and turkeys is fairly light. We adhere to state rules, 4 points or better, but many of us have more stringent personal guidlines. We realize that the 4 point we don't shoot this year could be the wall hanger we kill two or three years from now. Don't get me wrong, somebody wants to shoot a 1 1/2 year old 4 point, it is legal and while I won't do it, that is thier business. I especially encourage kids to get any opportunity for a legal kill that we can, they get one spike a year and while I wouldn't shoot one. I congratulate and am excited for every kid that kills one, no matter how big or how many points.
That being said, many of the surrounding area hunters are notorious for "it's brown its down" and the good ole "ground check". See, it is doe day every day here. So, what happens is that the first deer that walks into range gets popped over our fence (normal height) line. From friends I know that at least HALF the antlerless (should be doe) deer they kill are spikes. Everyone in this area suffers as a result. Some of these clubs (some are well run w/ good policies and QDM) line up on our line (and the clubs w/ good management) because they have taken every decent sized deer on their leases and know where the quality deer are.
We kill allot of does in the area, we control out of necessity. We just have too many deer. But, we are very strict about young bucks and do our best to curb shooting button bucks and spikes. Our efforts have been changing things in certain areas. But in much of the range, it just stays the same because of the ethics of the hunters over the fence.
Hank