Here are some fairly accurate (although not exact) numbers showing my experience with Fictionwise. I made my first purchase from Fictionwise in January, but didn't join the Buywise program until March when they offered a $15 micropay rebate on their membership fee. Since January I have spent (in real dollars - credit card and/or paypal) just under $500. This includes the cost of my initial Buywise membership, and extending it for 5 years to take advantage of 100% micropay rebate offers.
For that $500 I have received books with a value of at least $885. The number is actually higher than that, because I figured it at a straight 15% discount, but quite a few of the purchases were at higher percentages off (anywhere from 20-50%). That is the straight discount off purchase price for Buywise membership I'm talking about, not micropay rebates.
I still have 4 free book coupons available to use and $67.11 in micropay dollars available, so even if I do nothing more than use up my micropay dollars and the free book coupon codes, I will still have received books worth almost double what I've paid, and my Buywise membership doesn't expire for 5 years, so I'm sure I'll spend a lot more than that.
I don't buy a lot of the bestsellers with the $100 micropay rebates (only very occasionally), but I do shop their sales carefully to maximize my investment.