Another possible model:
- Source (stripped) = free
- Source + dependencies and build instructions = small donation/contribution.
- Binaries = larger donation/contribution to save the hassle.
However, if there is other GPLd software in there, and they are relying on the GPL to be able to distribute it, then you are right, they need to comply with the GPL requirement to distribute everything needed to build it (Makefiles etc...).
Disclaimer: IANAL, this is not legal advice.
If you cripple your version of the software, the next guy to figure out how to uncripple it will release his version, and everyone moves over to that. And your deliberately broken version dies the death it deserves.
That's on top of the fact that breaking your software deliberately until someone pays is pretty much the opposite of FOSS philosophy anyway.
I can't say it'll work but it's nice to see people experimenting with new monetization schemes.
The core product is technically open source (see http://code.google.com/p/sqlyog/downloads/list) but is difficult to compile. They even offer a free binary version -- but it's a trial with nag screens.