This too, is one of my "blue sky" exhibits. And I agree with the other posts here that herp care has vastly improved since the 30's or even the 60's. And, while I am in no way an expert on reptile husbandry, I would think that an exhibit to replicate marine iguanas would be no more of a difficult task that most large aquarium exhibits. How I always imagined it was to take the Monterrey Bay Aquarium kelp tank and add a rocky cliff extending up out of the water from there. Chilling the water is expensive but common practice in aquariums. I would display several species of native fish and inverts in the water half and include the red cliff crabs along with the marine iguanas above. I think the real trick would be to aqua-culture the actual algae that they feed on in the tank itself. I would also use actual ocean water (seems that exhibits do much better with pumped sea water).
In my "blue sky" exhibit I would treat each island as it's own exhibit - separate from each other so that the guest understands them literally as islands and what it means to evolution. And while it is a shame that Ecuador won't export these unique animals, the real crime is that I don't believe any zoo or aquarium would devote the resources or space to an fully immersive Galapagos exhibit since it had never been done before (and thus the guest/profit increase could not be estimated). Of course this is EXACTLY why they should do an exhibit like this!