Feedback On Fan Club Wanted

I'm considering putting together a subscription based premium fan club, kind of along the lines of what The FuMP and Erfworld are doing and I'd like some feedback. This is going to be a bit of work to set up so I want to make sure it's worth it for both of us before I do anything.

What I'm planning is, for a small monthly fee you'd get:

1. Store credit. 100% of your subscription fees become store credit, so when my new album comes out or a new shirt or something you can buy it using the credit you have on the site.
2. High quality download credits. You'll get a few free high quality (192k) downloads from my web site each month.
3. A quarterly newsletter with exclusive content of some kind.

Now, here's where I'd like some feedback.

#1 is pretty straightforward. The only caveat to that is if you cancel your subscription you have 30 days to use your store credit. After 30 days it's forfeit. Sound fair?

With #2, should these song credits be cumulative, or just so many per month, period? What I mean by that is, let's say you get 3 credits per month. If you download your 3 songs this month next month after your payment goes through you'll get another 3 credits. But if you don't download any songs this month when your next payment goes through should you then have 6? Or should it max out at 3? What do you guys think?

Third, with the newsletter I'm wondering what format people will prefer? I basically have 3 options: printed, PDF, or HTML. A printed newsletter would be something tangible that you'd get in the mail like I used to do with The Roadkill Gazette. A PDF newsletter would save me time and money, and be printable so if you wanted to print it out to have me sign it or whatever you could. An HTML newsletter would be the easiest to produce and distribute, but not all email clients fully support HTML and I couldn't do any of the really cool stuff with it anyway (like have a Flash player to stream a rough mix of a new song I'm working on). (Can you embed an SWF in a PDF? I'll have to look into that.) Right now I'm leaning toward the PDF and sending it as an email attachment, but I wanted to see what you guys thought.

Now, what would you guys be willing to pay for something like this? I have a price in mind, but I want to see if I'm in the ballpark here.

And how likely is it that you would sign up for this? Please tell me either way. I want to gauge fan interest before I spend the time necessary to build the infrastructure for this. (Wow, that sounded way too corporate.)

Finally is there anything else I should offer? Any feedback is appreciated. Please comment here or email me.

Originally posted at DevoSpice.com. You can comment here or there.