Now perhaps it won't take as along for an article to be reviewed and published. The answers lies in the world wide web. Per NY Times,
“In place of a closed, privileged and costly system, it will help open up the world of learning to everyone who wants to learn,” said Robert Darnton, director of the university library. “It will be a first step toward freeing scholarship from the stranglehold of commercial publishers by making it freely available on our own university repository.”
Under the proposal Harvard would deposit finished papers in an open-access repository run by the library that would instantly make them available on the Internet. Authors would still retain their copyright and could publish anywhere they pleased — including at a high-priced journal, if the journal would have them."
An excellent piece. Read full text here.