Bands like Depeche Mode, Goldfrapp, and Pixies have had a lot of success with websites like LiveHereNow as a clearinghouse for live recordings. Didn't Pearl Jam even do something similar with one entire tour?
If the rest of the band isn't too keen on raiding Hooky's vaults for official releases, how about setting up a pay site for something similar? There are plenty of people here in the forums who have the tools and skills to tidy up analogue/cassette recordings (and would probably be happy to do so for little or no compensation...like me), then each show could be made available for a flat rate, say, £10 apiece.
I'd buy every single one, and with very little overhead it would be almost entirely profit for the band. Add a new gig every couple of months, set it up as a subscription service, and I think it would be a huge success - especially if the shows spanned their entire career.
It would also be a bit of a first (offering archived recordings), and might inspire other bands to do the same. Just because they've got Godlike Genius doesn't mean they should rest on their laurels, eh? ;)
