I had a paper go live last week, and you can read it here: Discovering functional modules by identifying recurrent and mutually exclusive mutational patterns in tumors
The interesting thing about this journal is that it's not only open-access, but the peer-review process is completely open. You can see the original article that we submitted, the comments from the peer reviewers (and their names!) and the revisions that we made in response.
For non-scientists, or early grad students who have never submitted a paper, it's an interesting look behind the curtain.
As someone who has published a few times, it was kind of refreshing to be able to attribute the review comments to specific authors. I think it helped in understanding where they were coming from with their criticisms and how to address them.
On the whole, the experience was a positive one. I feel like signing your name to a review probably makes people less likely to be dismissive (and sometimes just plain mean), and forces reviewers to justify their comments a little better.
Is it the future of publishing? Only time will tell, but I'd certainly publish or review papers for such a journal again.