My angel group uses Angelsoft to organize the deals we receive from startups. I believe we pay Angelsoft for the privilege and get to use their tools to discuss and evaluate the deals that come our way. It is useful.

There is also tons of crap listed from other cities and groups. I guess these guys pay Angelsoft to pitch, but that part of the site is a complete waste. There is so much noise in those deals that I never look at them.