I'd ask yourself where you intend to go first... if you're sticking to major routes and big cities then membership may be worth it, but if you're gonna hit the outback, a decent travel insurance policy and a good credit card limit (allied to a sat phone if needed) will be enough.
eg. I can't see RACV membership being much use in the sticks, only Melbourne & vicinity - similarly, if you break down, for example, 200km from Coober Pedy, there won't be a patrol along in a minute - you'll take what you can get and pay for it, then claim back of your insurance when you get home... that's assuming you can't flag down a decent roadside mechanic, which most outback Aussies appear to be anyway.
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