If $69 is too high a price to pay to backorder a particular domain, then surely what you are saying is that the domain is actually worth less than that figure?
I don't think that is the case at all. :)
Keep in mind that is the referenced cost to attempt to reserve the domain. There are no guarantees, the odds are actually stacked pretty high against you (you're competing against pros like Lisa :)), and it could be months or years before a domain you are hoping to get actually gets released and into your hands.
Just because you might go into a casino, plunk down $100, and walk out with $1000, does not mean that putting the $100 down in the first place is a good investment. It is a gamble. So is putting domain names on back order.
Additionally, if the registrar is GoDaddy.com or any of their resellers - you should note that they do not purge all of the domains in their registry as they expire. Staff members cull the better domains from the lot and then GoDaddy resells them for $35 - $55/year from [godaddy.com...]
My guess is that in time many other Registrars will adopt similar practices ... further skewing the playing field.
Just a thought ... I could be wrong .. Cheers