I basically look at them as a who's who... however if the CD comes with a database that allows you to propogate a list of all alumni in your area it can be a great asset to the chapter for active-alumni relations and/or fundraising.
I could only see getting the book for the chapter, and tossing it in the chapter room as a information tool. Local chapter alumni lists are vastly more valueable on many levels, though keeping them up to date can be a pain (did it for 3 years).
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University of Toronto Alum
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"Cave ab homine unius libri"
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