I'm in a guild of 190 quilters--it's a county-wide guild. We have 2 meetings--one in the daytime, repeated in the evening--even the program,even when it's a paid outside presenter. Most months there is little space problem--the day meeting usually draws about 75-80 members and the evening about 35-40. when we do have special dinners or meeting that draw many more it can be a squeeze. When you do have 2 different meeting times, you will find that there is a different feel to each, even with the same officers or agenda.
when my machine quilters guild "outgrew" our meeting space, we did move our meeting location and benefited by it. I think if we had developed a wait list, it would have a real turn off.