Kevin and Matt,
I think standards are already set, even if not written down. I assume that the standard is to send the best you can do unmatted and unmounted RC or FB print. In addition to that, participants are allowed to do more. That is how I understand the print exchange. If you set the standards too high, only a few will participate because for most of us your standards may be not reachable. It is a difference if you can mount and matt a print yourself or if you have to pay for it.