uncreative separatists has a very good explanation on Why are the "freeIpod", "free iPods", "free TVs", "free PCs" schemes scams?
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In summary It's up to you to decide how to spend your time. But you should understand by now that, even if you manage to get your "free" thingy, an awful lot of people are unavoidably going to lose out. Why would anyone want to help this company spread even more marketing misery and woe throughout the world? I can't think of a terribly good reason.
However, it may make a little bit of sense to join if:
It's entirely possible the company running these scams is merely in the business of collecting names and addresses, and they aren't trying to "rip anyone off". I'm doubtful that is the case, but their actual motives don't matter. If they were truly trying to be honest, they would take the time to explain just how poor the odds were of actually receiving a "free" item... which would, of course, heavily discourage people from signing up in the first place.
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Jan 28: Second time at moderation, new stats:
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Beware of the Turing Tar-pit in which everything is possible but nothing of interest is easy.