Michael Elliott has self-archived The Future of the Monograph in the Digital Era: A Report to the Andrew W. Mellon Foundation.
Here's an excerpt:
Over the course of six months, our working group endeavored to consider whether a model of university-funded monograph publication could improve the publishing landscape for scholars in the humanities and facilitate the "digital transition" that Berkery foresees. Under such a model, a university would bear a high percentage of the publication costs through an initial contract. The university press would produce a high quality, open-access digital publication, as well as make the book available in print form—possibly through print-on-demand.