I have read enough to form an opinion, I think.
1) It is not necessary to have such an elaborate grading system for chips when the five grade or a descriptive grading system is adequate. The buyer should have reasonable expectations of what he is getting from an easy understandable grade or description, which is currently being practiced among chip collectors now.
2) There seems to be no criteria for someone to be deemed an ‘authority’ for grading purposes. Ultimately it is only an unsupported opinion (due to all the disclaimers).
3) Fair Market Value can be artificially affected by the unsupported opinion in a tremendously unfair way.
4) The slabbers have little to no vested interests other than selling a superfluous service at a premium that again inflates costs with no value added. Appears to be just a marketing ploy both in the coin and chip fields for the sole purpose of making profits for the slabbers.
5) I’m still pondering how placing the item in a mold and pouring plastic over it enhances the value. I look to other things of great value or rarity, such as gemstones, art, and etc. Wonder why the Hope Diamond was never slabbed? Gee go figure! I will ponder this one further…