BB, we usually agree on things, but I have to disagree here. The book's value in the case of moderns is largely determined by the grade given by CGC. Until it is slabbed (or sold), you really don't know what its FMV is. Why pay more up front? It's not cheating (and btw, the graders don't determine the fees charged - they only determine the grade). It doesn't matter what the book is BA 12, some Italian artist, or Evil Ernie 1, etc. As to insurance, you make that choice, and often the submitter pays much more for insurance than they actually need to.
And it's absurd to suggest that the graders would base any grading decision on the amount of fees paid.