I'm not exactly a strip club connoisseur and I generally agree with what you're saying about money being better spent elsewhere, but I have been to one or two clubs in my time and much like the massage (and the will they/won't they offer HR anticipation) strip clubs can offer a different 'sexy' experience to punting. It can just be a bit of sleaze to turn you on on a regular night out with your mates, rather than a full on punt that you might not want to advertise to those mates!
It's all about escalation. When I was much younger, my mates would buy Loaded, whereas I was a top shelf guy. I never saw the point in the watered down sexiness. I suppose strip clubs vs. punting is along the same lines, but for the timid or unsure punter, clubs can offer a release without technically cheating if they have a girlfriend or wife.
I totally agree that those £150 prices are extortionate, but so are the normal dance prices in the Newcastle strip clubs in my opinion. You're looking at £20 for a single dance. Your best bet is to go to the smaller places where prices are cheaper and girls are a bit more hands on. Angels in Redcar is a good example. £10 a dance, they are less strict on the 2-3 minute timing and they appear a tad more 'into it' and touchly feely (even though touching of you is still minimal and they still don't offer anything sexual at all).
If you've not been before, go for small venue and have a tiny sample......a tenner shouldn't break the bank and then you will have had the experience anyway!