Wrong type of community for me personally. It's mostly designers and not enough interesting stuff from an engineering perspective. One too many HTML5 CSS3 show off links. I'm more interested in systems programming topics.
I applied, out of curiosity, but I have to say I'm a bit apprehensive about an invite-only community. The insistence on having a Gravatar almost feels cultish.
Invite-only, and one must fill out an application? I'd pass, based on that alone. Under such circumstances, I would have never been able to enjoy HN, for example.
If there is a strong desire for an "exclusive" community, how about requiring people to pay to use it?