I just found this article by George Vrechek about Irv Lerner's Card Collector's Hall of Fame (and similar schemes). It appeared in SCD in 2011 and is now on the Old Cardboard site. The 1970 and 1971 editions of Who's Who In Card Collecting were the only ones, so the nine collectors mentioned above were the only ones ever inducted. Vrechek's article discusses the selection process and has excerpts from the biographies of the inductees.
http://www.oldbaseball.com/refs/Coll...36_to_1971.pdf