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davidcyclebackWes, there's no question that alterations do change the value of the card, and alteration that changes the value should be disclosed at sale and, in most cases, legally must.
Almost all cards I've seen first hand in albums were low grade, and it's unlikely a bidder would raise or lower their bid when finding out that the stained, creased grade poor trade card was removed from an album. Whenever a collector sees for sale a low grade card with "glue and scrap paper remnants on back," he should be able to figure out the card came from an album.
I haven't done a survey, but my guess is that the vast majority of trading cards removed from old albums grade Good to Poor, with probably more closer to Poor than Good. If you've ever seen an album with T206s or Allen & Ginters good enough to be auctioned by Mastro, you will see that many to most of the cards are in rough shape. And it wasn't uncommon for a Victorian kid to trim the cards, either to fit on the album page or for aesthetic reasons.