Hi guys, thanks for the ideas.
Our annual budget is around $800.
Last year the T-shirts paid for 2007 (repaying Hardie for supporting the site in the first year) and 2008, so I think it's quite possible to support the site through sales alone. It shouldn't be necessary to require any form of membership fee, and I'm against charging any money unless the sailor gets something tangible in return.
Besides, who doesn't want a unique T-shirt or sticker that says "I'm part of an elite crew"?
I'm quite humbled by the responses we've gotten here, you guys are awesome