Help/Advice buying ungraded vs. graded

[iwantitiwinit]

My feeling is that the grading services have been around for so long now that most vintage cards have, for the most part, (with the exception of those raw cards held in personal collections) been submitted for grading. Those vintage cards not currently residing in TPA holders are not in holders for a reason, they have been altered. Given that, it seems to me that the risk of purchasing non-altered raw cards is in no way worth the far less probable potential reward. Obviously others have other opinions and other reasons for preferring raw over graded. I try and look at it logically and see no true valid reasons for buying ungraded, especially if you intend on spending say $75+ for commons and say $500+ for stars. As far as the registry goes I couldn't care less, I just want to make sure that my dollars are spent on an unaltered product.