Kevin Smith has published "Who Should We Trust?" in Scholarly Communications @ Duke.
Here's an excerpt:
It is not that we exactly trust commercial publishers, nor do we exactly distrust them. We may recognize that the values and goals of the commercial publishing business are different from, and even in conflict with, the best interests of scholarly authors and of scholarship itself. Perfectly nice people, working to advance their own interests as best they can, come in to conflict as the conditions for research and teaching change. And a real ambivalence is created because of how interwoven the parts of the academic enterprise are. More than just inertia is a work; important aspects of the academic enterprise remain interlocked with traditional forms of publication.