Voted YES just for the metrics, but this is a nugatory amount. As others have said, this would be swallowed by administration costs (hell, just driving to the bank in an Omega to cash a £1 cheque would use more petrol just cranking the engine).
Opinions to pay by card - I cannot believe that anyone associated with the running of the site could set that up, however, it does open up the option of 3rd-party pay systems (e.g. paypal).
One system I did see which worked well (well, it got $50 from me) was a voluntary system, where the site admins just gently prodded on an open forum every now and then for pay whatever they felt was appropriate.
To the admins: consider that with, say 100 people, you're likely only to get payment from the dedicated hardcore (whoever they are), so maybe 20-30% (despite what the poll says), and that figure is going to be directly proportional to the ease at which payments can be made (i.e. if you can pay at the keyboard then you're more likely to do so than if you have to walk to the post office and buy and post a postal order - contrived example, perhaps). Understand what you're trying to achieve - if you want to cover all costs then you're surely going to need significantly more than the £40-£60 that the £1/head is likely to attain. If all you're trying to do is take the sting off the running costs (e.g. pay for a base-station to be running 24/7) then the proposed method will certainly do that, but little else.
Just my two penneths worth (hmmm, gonna need some more two penneths... :p )