I rarely, if ever comment on the mailing lists, but this topic drew me out.
I find myself in the camp that, while excited at the idea of acquiring new content, is more excited at the idea of doing something significant about content that will be lost before too long, and (without having taken shedfuls of time to evaluate all the possible pros and cons) favour a scanner project. The idea of very high quality scanners, distributed globally, (10 scanning centers, another poster put it, I believe) that might also give some employment boost in areas that could well need it, is very attractive. I'd put the bulk of any largesse into that, and maybe 20% into film (still/movie) preservation. Better to preserve and be able to use what already exists than to buy things.
Lobbying I'd give exactly $0.00 USD to. I think it best WMF stay out of politics. Leave that to the EFF and the Libertarian Party, et al.
Hope that is of some help.
Larry Pieniazek (commons and en:wp user Lar) Hobby mail: lar at miltontrainworks.com