I see little benefit to using membership for a large site. This has been marketed as 'the' solution for ASP.Net authentication. However, really it looks like Microsoft is just trying to position the old Membership Server product as soemthing that everyone all of a sudden needs.
I worked on Membership Server at Msft around 10 years ago. Was also a lead developer on shop.microsoft.com, and I can tell you we used no internal server products on that site--not commerce server, not membership server. Not sure how they are doing it now--but I think the general consensus at that point was that those type of packages generally got in the way of what we were trying to do.
It could be useful for a smaller site, or if you have limited resources... i.e. a few hundred users for a departmental or small company intranet, where you don't want to invest much time or resources. The more I look at it, the more it seems completely inappropriate for larger, custom web sites.
What I really don't understand is how almost every ASP.Net book seems to push this as the only way to do it, rather than one way to do it.