I totally get that as well, and I think there should be a way Twin Galaxies has a source of income to cover that labor, sounds like a LOT of time and effort, and I get why it had imploded before.
I just don't know if charging for submissions is, in the record keeping world, ethical. I'm surprised Guinness would be OK with this. If you deny any entries that don't shell out money to be considered, it isn't really honest. I know a more than a few gamers who simply could not shell out that kind of money for a line of text on the internet.
I can see a lot of other methods to clean the trash and put some money to reviewing records. I think it would be more than fair to have tiers of membership, and charge members for their ability to submit scores more freely. All non-paying members could have a cap limit of like 1 free submission every 3 months. I'd also be fine with needing members to jump through a couple more hoops to prove who they are, so they don't have to review submissions from I.C. Wiener or Dick Cheeseburger. And I don't think anything beyond a certain mark like 25th place really needs to be reviewed.
As far as money goes, I'd think they could do the whole fundraising and promotional events route to get a good chunk of income. Maybe offer an optional $25 official record certificate to submitters, with the knowledge that the certificate is more of a "Thank you for reviewing my record" Donation. I think there would be a lot of community support, and possibly more income if they don't force a payment.