That's an impressive list of digital downloads, and some of the exclusive physical items are very decent too. Club Nintendo easily exceeded my expectations on the way out.
The only thing I'm curious about now are the Gold/Platinum prizes for this year. Anyone interested in a digital download is better holding out for that information before buying anything, because the year-end rewards were confirmed as digital downloads too. (Of course, people interested in physical rewards are better off buying ASAP so that stock doesn't run out.)
Rewards I'm most interested in, personally:
* Super Mario 3D Land (600 coins) - probably the best value, but also the easiest to get elsewhere.
* 3DS XL Pouch (600 coins) - priced high, but looks good and I really like my other pouches from Club Nintendo.
* Majora's Mask Messenger Bag (800 coins) - looks nice but don't think I'd use it...
Tough decision. I'll probably end up with game downloads. What about others?