Tom
I like the idea, as unfettered as possible. Some people on this thread (and elsewhere) seem to treat "archival" material as sacred and above being scrutinized by the proleteriat. I think that if we (collectively) have learned anything here on GCA.com it is that virtually no archives relating to golf course architecture are beyond question and not amenable to serious and constructive scrutiny.
Moderating such a facility would not be an easy job, particularly if we wing-nuts were given a password to ask question, offer alternative explanations, etc. Bu, isn't it this sort of heavy lifting that USGA should be doing with our money?
In this chaotic GCA.com world that some of us sometimes inhabit, a number of interesting avenues for exploration have been opened up, mostly through the effort and passion of newbies. If the USGA can support this sort of effort, more power to them.