chup,
Once you pay that $750 fee, you are officially registered with Visa. The issue is not so much them not liking your site or blacklisting it for "content". If you ever pass 1% chargebacks, you can be blacklisted for LIFE from ever processing with another 3rd party processor OR with your own merchant account!! Once you are registered, they can track you by name, SSN#, URL, street address etc.
The registration thing is some ominous bullshit!
