I've been ranting about Open Access Journals - Here and Here.

I just found out about a discussion on Leiter's Blog from a couple of years ago called "Time For An End to For Profit Journals," - [HT: Philosophy, et cetera]

Also, there are three recent posts out there in the blogosphere on this issue. Here's recent post from Crooked Timber. Philosopy, et cetera has two recent posts about this issue- one about open access journals and one about other ways to move away from the old style publishing model.