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Marc S.should opine on this one, being the resident #1 PSA Registry 1928 Fro-Joy graded set owner.
It is a touchy issue -- but isn't this exactly what the grading companies are there for? Grading a Fro-Joy might be just as hard as authenticating a Keensaw Landis autograph -- but this is precisely the service that we are sending our money for.
I think that PSA has been very strict with these cards up until now. In fact, the only three owners I can think of with PSA-graded 1928 Fro-Joys are Vorthian, John Branca and Steve Verkman has some in his inventory -- and all three of those are authentic (with many having passed through the hands of Mastro).