It's based on post count. I can't remember the exact intervals, but as your post count increases, so will your member status. I think at 100 posts you become an "Elf 1st Class". The MMC Editor elves are moderators.
I think then come Elf Extraordinaire, but I'm not sure whether that's based on post count or even if that's the correct title. Then comes the moderators, administrators, and other MMC staff.
Just remember, he has to fit umpteen kids and a wife in there, so the Mini is out. Speaking of cars, have you seen the SmartCar by Daimler-Benz? Very cool!