should also have added another couple of options
(d) - get Civil Registry to do it and either operate a 'free' service (ie paid for by Manx taxpayers) or handle charges as per current birth certs
(e) sell out to either a large UK-based organisation who would merge the manx records with the 1000x larger UK databases or to a commercial organisation that can handle the money collection.

As has been quoted in many archaeological articles the Island is small enough for methods that are infeasible elsewhere to work (eg the one-man band that is Brian through whom we have complete indices to all censuses as well as a virtually all Island burial + Will indices).
I guess the real problem is the paucity of on-Island volunteers to handle the stuff not on Mormon film and the pressure of off-Island users.

As as final note - an all Island GEDCOM is not that infeasible !