I've had mine for about a year, so I do not know what the current wait times are. It was about 6 weeks back then.
It's a hell of a lot easier than getting a MA LTC.
It gets you discounts at some online retailers (Midway, Brownells, etc...), but the real savings come with buying C&R eligible guns and having them sent to your home. No FFL transfer fees and wholesale pricing. Pays for itself with the first gun purchase.
If you ever intend to buy even one C&R eligible gun, then it is definitely worth it.