In addition to listening to David Wiley, I've also gone to a presentation by Wayne McIntosh of WikEducator. I'm starting to appreciate how his OER model might work.

For instance, how would you build a network of volunteer instructors? I for one as an online teacher would volunteer to help bright and motivated students who can't afford regular university tuition--a refreshing change from paying students who see themselves as my customers (who are always right) and exhibit very little motivation to do original work when they can get it already done from the Internet. I think that mostly the best and brightest would sign up or persist for an open education. If they can't afford university tuition, they may have already surmounted considerable obstacles to get enough education to attend university. They want it, and they will apprciate my help. 

I imagine the universities offering the optional paid assessment for a crediential will set the bar fairly high in order to demonstrate the quality of the credential and will go to some lengths to ensure the integrity of the assessment process. Good.

Bring on those students who really want to learn!