I think they have some nice memorabilia offerings this time around... some bordering on incredible (i.e. the Babe Ruth Fro Joy piece and the set of D&M Ad Signs). There is some great early equipment too (Bats and game-used Jerseys) albeit not as much as they have had in the past.
I think we got a false sense of what was really out there, based on the REA auctions of 3 - 5 years ago. Their "major consignor" is no longer consigning, and collectors are now holding on to their prized pieces (Rob Lifson's words to me). Memorabilia collectors are much less likely to flip their sacred one of a kind possessions than card colletors (who know they will again see numerous other examples).
When I spoke with Rob about 4 months ago, he said he was actively seeking quality memorabilia, and also made an incredibly generous offer for some nice consigments (the type that Mike was referring to in the original post). I just think REA is at the whim of the consignors, and what is currently available. There was no conscious decision to shun the memorabilia side... it's simply supply and demand.
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