Douglas Arnold and Henry Cohn have posted “Mathematicians Take a Stand,” their sober, carefully argued, and thoroughly researched case for the Elsevier boycott on the arXiv. It will soon appear in the Notices of the AMS.
I don’t know what shape the mathematical publishing of the future will take but it seems almost impossible that it will look much like it does now.
Update: Mathematics is important as a kind of avant-garde but the money is in biology, as we all know. That Wellcome is considering launching an open-access competitor to Nature and Science, and requiring grantees to publish only in open-access journals, is a big deal.