The faculty senate at the University of Maryland voted down a resolution supporting open access. The faculty resolved
The University Senate encourages faculty, students, and other researchers, where practical and not detrimental to their careers, to (a) publish in open access journals or journals that make their contents openly accessible shortly after publication, (b)negotiate with the journals in which they publish for the right to deposit articles in an open access repository, and (c) consider the price of the journal as one factor in the decision on where to publish.
The University Senate encourages faculty, students, and other researchers to deposit all reprints and reprints of articles, when permitted, in an open access repository such as the DRUM archive or, where appropriate, in discipline-specific repositories such as PubMed Central.
The scholarly kitchen features a nice article on this. It says, "The assumptions that open access publishing is both cheaper and more sustainable than the traditional subscription model are featured in many of these mandates. But they remain just that — assumptions. "
I have written before on open access and I am firmly for option b and almost 95% of the publishers allow this.