That's too bad about the fee, but I get a lot of value from FLP, so I won't begrudge it when I have to re-up next year. They have a pretty good selection of e-books.
I personally don't find the FLP wait lists too bad for most mysteries and some non-fiction - JM2CW. I can have up to 10 titles on hold at a time, and that means that usually I have a couple of FLP books going at a time, which is fine with me. I do wish I could control the order the holds get fulfilled (yeah, I know, just a daydream), and sometimes I get too many holds all come through at once, but hey, that happens with holds on p-books too!
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