Open Access Journals

http://www.eschoolnews.com/2010/10/25/universities-commit-to-open-access-journal-movement/
and
http://www.oacompact.org/

Is it the "cost cutting" or the "right thing to do" that makes the Open Access Journal Movement interesting?

The free exchange of peer reviewed information will make research much easier and move mankind ahead faster.

I love the idea of being able to get my hands on articles without having to jump through hoops to get to the library (via the internet or real world) to look at an article that may or may not have the answer I am looking for in a journal that I would use only for this one occasion.

But part of me says that main reason for doing this is the cost savings.  No printing and storage costs.  No staff to hire to produce the journal.

What will the library look like in the future?  I suppose they will be like museums for the books we used to check-out in print.  Are the schools in this compact starting a trend that will end the library as we know it?