Throw in a dollap of nostalgia, and a teaspoon of minimum grade (cost dependent) and there's my Bugs Bunny approach. I do understand the motivation to focus on scarcity. Its one of the reasons I get down on Silver Age on up that have been graded. In almost any grade, its not as if another one won't be available shortly.
Value vs Scarcity I don't use that as much. The obvious here - that value is subjective to yourself. I value the Cartoon books much higher than the market but when I see an All Star 3 vs a Wonder #1 the All Star is easily the more impressive book to me even at the higher cost.
The other reason I don't focus on scarcity is an issue with "one of a kind" items. These are tough to value and to me (an others I think) it loses some excitement because its a loner type collecitble with little sharing appreciation.
I'm not a loner. I'm just waiting for everyone else to catch up.
I'm sure you said that tongue in cheek, but it's really become true with Archie. I remember 20 years ago, no one wanted them. With the exception of Archie 1 and the hero books, they were always obtainable at deep discounts to Overstreet. Now try finding Archie 2 through 6 for less than 2X guide...