I've never had it, but I agree that iTunes radio being ad free does sweeten the pot quite a bit....
Plus, I'm thinking that it might be nice just to have it for a year so I can download a higher quality version of all my existing songs (plus get all the album art!)
Question for those who let it expire... if you don't have a local copy stored on your mac, does it automatically download? warn you? give you an opportunity to download once after expiration? Or just disappear?