Public Rambling discusses post-publication journals:
These ideas of sorting based on measures of usage is already being tested by the new Frontiers journals. These are a series of open access journals published by an international not-for-profit foundation based in Switzerland. As PLoS ONE, these journals aim to separate the peer-review process of quality and scientific soundness from the more subjective impact evaluation. In practice they are doing this by publishing research in a tiered system with articles submitted to a set of specialty journals.
I am already in favor of publishing every paper electronically. Public Rambling, however, also cites Campbell:
nobody wants to have to wade through a morass of papers of hugely mixed quality, so how will the more interesting papers in such an archive get noticed as such?
What about post-publication journals that just pick the excellent papers – either by their own expertise, by agents or peer recommendation?
No more hassle with repeated submission of papers – just upload and wait and see if you get recognition of your peers, yea, yea.