Yea, I've gotta agree, Cage should make a LARGE amount of money, even with all the restored comics.
Would I be pissed if I were him? Yep. But not about the money. More about the trust factor. It's the lack of disclosure and "f--- you" attitude of the guys who do all that slight restoration that has killed the prices on restored comics to begin with.
Once restoration detection becomes a skill that is widely available to collectors who wish to possess it, the market for restored comics should recover quite a bit. Bob Storms tells me that just a few years ago, a restorer was offering a class in restoration detection for like $2000; I think he said they would probably still teach for that amount. I could see paying this amount--or more--for performing restoration itself, but not restoration detection. Detection needs to be a common skill. I've talked this over with restorers Matt Nelson and Tracey Heft, and I think they both agree. I'm encouraged them to write about detection in detail about it in the upcoming Overstreet Grading Guide, and I'm hoping they did.
If Cage decides to sell ALL the books now, restored and unrestored, then the best long-term investment will probably be the restored books. This is the absolute WORST time in the history of comics to sell restored comics, and I'm betting that it will probably be looked back upon in the future that way as well.
I'm not sure how much of this story is true since Cage is also selling his car collection. I'm sure it played a part in his decision, but it sounds like he's got a lot more on his mind than feeling deceived by Metropolis.