Sorry for coming late to the party - was away for the weekend.
My "short" answer to the original question is that I neither need to have an Old Judge graded in order to determine whether I want to buy one nor need to have it graded after I have bought a raw one.
That having been said, all of my Old Judges are graded. Not because I want the highest graded example of any of the players I have, but rather simply for the protection the encapsulation provides. Additionally, as previously mentioned, when the time comes to sell a graded card stands a better chance of selling for a better price.
The grading companies continue to stick to their rigid rules for their technical grades, which don't apply universally to all card sets. Most Old Judge collectors, whether only casual or serious, would clearly agree that the image is the most important factor.
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