From an historical perspective I would now be allowed to teach students, although that stopped being a requirement long long ago now. I am also now a voting member of the University's Senate House, an entirely meaningless honour given that it was emasculated in the 1940's and it's job is now done by the Regent House.
More importantly (in a 'will it change your life' sense), I now get Dining Rights at college :-).
Met a lot of my old cohort in the process, which was good, too.
Someone will now come along and correct half of the above...