I think it really depends on the individual chapter. Mine stressed earning/wearing dangles. Other chapters never even think about it and are amazed when they see mine. My alumnae badge is almost full and I'm still working on it.
Our National Council officers get a torch as a guard to symbolize that they've given up their allegiance to just one chapter and now serve the whole Fraternity. They're allowed to wear it even after they're no longer national officers to show their past service.
I really like the Honors/Arc dangles. That is SO cool! We do have an honor ring that can be earned but you have to serve on some sort of natinoal level to get it and that is not easy to do. I received an alumnae service award last year and the big deal is that I get to wear an extra sticker on my name tag at conventions. Whoo! Some piece of jewelry to go along with that would be a lot more fun.