After taking advice, I skipped the 'L' and went directly for the 'A'.
Benefits? It's not really a qualification as such, but it does carry some weight in the camera club world. Personally, I got a lot out of the journey to the distinction, I really had to raise my game in post processing to get the most out of the images. I also learnt a lot about printing! The award of the dictinction was my reward for all the hard work that I'd put in during the taking of the pics and the making of the finished images. It's also a bit of an ego boost - it's a recognition that my pictures are actually quite good, as not everyone passes (it's not a case of send your portfolio in and get a certificate back).
More about my journey on my blog here: http://thevoicefromthenorth.wordpre...ty-portfolio-part-1-getting-some-good-advice/
and in the following 4 or 5 posts.