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I do like the fact that they don't accept just ANYBODY
This is an important criteria for me as well, and I was amazed at how many invitations I recieved from people who had never grouped with me and had no idea who I was. I had/have no interest in joining a guild like that. The last time it happened, I sent a /tell back saying "how is it that you know me, and why do you want me to join your guild?" The reply was "duh, cuz you are 51 and we need more high level guys"
I grouped several times with guild officers alts, including a tag along with their 65 mains, before they asked me to join. Normally, they have an application process, but because they'd gotten to know me they bypassed that part of the process.
I can't stand the idea of being in a serious raiding guild, and can't see myself ever wanting to join one.