as a investor using angelsoft, i think it is a great service for angels to manage their dealflow. however deals in angelsoft have not been too interesting, my guess is it will probably never be the top tier deal flow. However, you may need a ranking system (not crowd sourced) to bring the top dealflow to the top of the list, this may drive some activity.
as an entrepreneur, i think the $250 mark is not expensive IF we know who the investors are out there and how many actually read my documents and how many actually respond to it constructively. Paying and not getting heard/read/feedback may not be the way to do. I would not mind paying if the right group of investors read my summary and will pay more if they submit comments or questions more on a success base rather than upfront.