Is there a place for a Subscription Journal in an Open Access world?

"At the Annual Meeting of the Society for Scholarly Publishing (SSP) in San Diego later this month [30 May, 2 p.m.] I will assert that yes, a subscription journal can continue its subscription business-model while effectively accelerating the transition of their discipline to Open Access—but only in the right circumstances, and only if a publisher adopts what I call "Maximum Dissemination" of the authors' work, including elimination of its paywall....

Accepting an author’s final accepted manuscript (post peer-review) is the ideal point at which the publisher could take on the mantle of providing maximum dissemination of the author’s work.

Imagine at that point that a publisher informs the author as follows:

• Congratulations. Your article "xxxxx" has now passed peer-review and has been accepted for publication in the Journal of yyy.
• Part of our commitment to you is that we will seek maximum dissemination of your work, both the published version that we will now be preparing and your Author's Accepted Manuscript (post peer-review) for those who do not yet subscribe to the Journal of yyy.
• Upon publication of our published version we will archive your accepted manuscript in an Open Repository that meets all the requirements of sustainable accessibility. If you have a preference for which Open Repository, you'd like it submitted to, please check the appropriate box(s) below:
• {The author's home institution Institutional Repository}
• {An Open Repository used by many in this particular discipline.}
• {A National Repository used by scholars in the scholar's home country.}
• {etc.}..."