I don't see anything wrong with it. It's quite clearly stated above the join form that there will be a recurring charge. I don't like the pre-checked boxes, but they are above the submit button and the surfer will read them before he sees the submit button.
Personally, i don't like the recurring charge for the club, or the prechecked boxes, but they are not hidden, they are clearly pointed out to the surfer, unlike the potential recurring charges that were in a software affiliate program *cough*
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