Very interesting discussion going on about self-publishing, open access book publishing and the like at Crooked Timber.
The craziest thing to do, would be to form a collective of academics who have their own on-line open access publishing house, completely by-passing the current publishing houses. Something like ‘The Crooked Timber Press’.
For my part, I would read the heck out of books from the Crooked Timber Press. Especially if they published e-books.