if they are limiting it to cards that were never issued except as sheets, it isn't a bad idea because it won't fool anyone.  It does present a giant conflict of interest, though, since the condition of the card would be the result of an SGC sponsored effort.  How could SGC cut down a strip card and award it a lesser grade?  
If they do it for any cards in sheet form and achieve a result as good as the factory cut, as they brag they will, well, that's trouble.  It will be all of 30 seconds before someone busts out a cut card from SGC's lame-ass holder and sends it to PSA.  And we all know that PSA sometimes grades sheet cut cards.
