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Depends...to me, operating well-known sites in a small niche, it doesn't make sense. There are lots of niche messageboards and other places for the word to "get around" that you can get a deal if you try to cancel --- and I think I'd have a lot of long-time members cancelling, then rejoining just to get the cheaper rate, when otherwise they would just have kept their membership recurring at the full rate.
If I was running sites in more competitive niches and felt that most people would never think of rejoining on their own, or would never come across my sites again, I'd be much more likely to implement a cancel discount.
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