I actually think you do - I went back and looked at my most recent clubdrop win, and it was $xx for the domain and $8.95 for the registration... You don't get a discount on the entering price of the domain, but I think you do get the advantage of the registration price decrease...
Please, someone correct me if I'm wrong here - I'm usually at Snap/Pool where there isn't the same after-the-fact add-on.
-Allan (Loves the hyphens)