Hall of Fame I believe has to be contemplated before they let a certain Player be initiated in, No, A Player doesn't have to revolutionize the game of Tennis but has to show what they have contributed to Tennis, eg: Navratilovas Surpremecy of Singles and Doubles, BJK, Steffi Graf etc etc
It's not just singles Results that count, Shriver had a fond Singles Career, but her doubles career was her Surpremecy, Thats why she was Initiated.
Conchita will be known as a great Champion of Tennis, Possibly more in Spain, I don't believe however she has got enough results to have her excelled in the Hall of Fame, 95 was her Best Season, and past and present before then, Conchita was a threat, Her Singles Career is Glamourous, considering the Singles Titles (Which seem to comprise of Teir 3 <) and a Mediocre-good Doubles Player.
Her Career up to now has been Excellent, No Doubt about it. Grandslam Champion? Yes, Hall of Fame representative? Highly Unlikely.