Depends entirely on the sort of fishing you want and the cash you have to do it.
The BAA are cheap. Got loads of water, some is very good, but selling day tickets to all comers has considerable disadvantages for regular anglers. However this is what keeps the price down.
The White Swan Piscatorial is expensive but worth the cash if you fish on rivers and ponds and do some fly fishing as well..
You get semi private fishing and tidy river banks and well managed pools with the WSP and presently no waiting list.
The PAAS, long waiting list but covers everything you may ever want to fish in the Midlands, North west and North Wales. Great if you like rules as well
There are some very, very good smaller clubs that are worth looking at, although they may have waiting lists and in some cases you may have to be local. Smaller clubs usually have well managed waters and offer good value for your cash.
Kinver Freeliners (Steve Williams is the man to ask) got some nice bits on both the Teme and the Severn and a very nice estate lake; Worcester Angling Society (the oldest coarse angling club in the UK) and St Johns for the Teme .
Montgomery Angling for Upper Severn and Vyrnwy
There are many more so I am sure other will add to the list.
Links to some of these clubs here