I think the one thing that the pro pin can signify (not that this is saying much, mind you) but it can at least show that someone has completed a manuscript. Given how many people in RWA are contest whores who are masters of the partial and wouldn't know how to complete a manuscript if it came up and led them by the hand, I think this counts for something. Not necessarily something to mention in a query letter-- but it's an accomplishment.

I have bigger issues with the notion of all the unpublished writers being referred to as "pre-published." You're either published, or you're not. Semantics, perhaps, but it's one of the things that's always chafed my knickers a bit.