The Economist from a few weeks had an article on online journals, Great minds think (too much) alike .
"No more ambling down to the library, searching through the musty stacks and queuing up for the photocopier. Instead, a few clicks of a mouse can bring forth the desired papers and maybe others that the reader did not know of—the “long tail” of information that the web makes available. Well, that is how it is supposed to work, but does it? James Evans, a sociologist at the University of Chicago, decided to investigate. His conclusion, published in this week’s Science, is that the opposite is happening. He has found that as more journals become available online, fewer articles are being cited in the reference lists of the research papers published within them. Moreover, those articles that do get a mention tend to have been recently published themselves. Far from growing longer, the long tail is being docked."
It's based on this paper, conveniently online (but not free).
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