[MattyC]

One thing to consider is that when a collector is shopping for a Goudey Ruth, if they have decided to buy a graded copy from say PSA or SGC, they are really only going to look at and consider examples from the slabbed population.

In other words, while there is an awareness of there being raw examples out there "in the wild," I doubt that factors into the mind of someone looking to purchase a graded copy. That buyer isn't saying, "Well, they usually go for 'X,' and this one looks better than average, yet I will only pay less than X because of the raw population out there." If one were to lower their paying price for graded examples because of potential future graded examples out there, the most likely outcome is that buyer fails to meet the market price and thus fails to reel one into his collection. As long as the newly graded copies enter market at a pace that can be consumed by the demand, the number of cards that are going from raw to graded are not likely to affect the price at all. And so that raw pop is rather moot in reality.