I love that this option is available now, but I also think that the cost may be prohibitive to many. At minimum wage (which I suspect is what many of our players make), $40 is almost 6 hours of work. While many of the rarer items certainly take a while to generate, 6 hours of work and 6 hours of play feel very much different, and I imagine people might hesitate to spend it all at once on one item that will be returned to them bare.
I predict that setting the price closer to $20-25 will make people much more willing to use the service in general.
Certainly, log checking, verification, and all that stuff does eat up a lot of time, but for the sake of everyone, I should hope that verification for one item would take less than 2 hours of active work (since I imagine just waiting for things is also a big part of it).
Nevertheless, kudos for including any kind of item recovery system.