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I don't think TGP surfers are always "cheap" or non-buyers... I think they buy less often mostly because of the way the content is presented.
Also, for any TGP or links style site... the easier it is to surf, the lower the $$ return per listed gallery/site will always be. A clean site will find it easier to send more traffic volume to offset this of course.
1:100 (or at least good $ returns per gallery) might be achievable from the primo TGP spots.... But regular submitters can't really expect to see great ratios selling the same ARS site a surfer has seen on 5 other galleries before seeing yours... no matter how good your sites are or how many clicks they attract... the top listed sites will still get the majority of all the sales per day.
I imagine the biggest reason for diminishing returns is more people working TGPs than ever before... and more TGPs having hosted galleries and private deals filling all of their most productive link positions.
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