[cassowary37]

For everyone complaining about peer review, another alternative to open review is paid reviewers who focus on a particular topic. For example, I'm an editor at a journal where statistical reviewers are paid and evaluated, while the remaining (content) reviewers are not. This ensures that we have a rigorous review of the statistical methods, at least. I do think payment increases the reviewers' responsibility and conscientiousness, and the overall quality of the subsequent articles. (nb This probably has been tested somewhere.)

BUT - paid reviews are not feasible for many journals, especially open access/low-cost journals where margins may be thin. (Conversely, Elsevier should be able to pay their reviewers in gold bullion, rather than taking advantage of the scientific community's altruism, but that's another conversation).