Rosie Redfield has posted (1, 2, 3) about her experiences providing OA to her article accepted for publication in an Elsevier journal.
First she notes that Elsevier's publication agreement requires her to hand over her copyright to the journal, permitting her to self-archive the final manuscript but not the journal-quality PDF.
Then she notes that for $3,000, her article can be available OA from the journal's Web site, but this still requires a transfer of copyright and does not permit the use of Creative Commons licenses.
Finally, she shares her correspondence with an Elsevier customer service representative, going back and forth on how she can pay the $3,000 fee, since her funding agency (the Canadian Institutes of Health Research) doesn't have a specific agreement with Elsevier on paying hybrid OA fees.
Update. Redfield has posted an update concluding that the hybrid option isn't worth it.
The open access movement:
Putting peer-reviewed scientific and scholarly literature
on the internet. Making it available free of charge and
free of most copyright and licensing restrictions.
Removing the barriers to serious research.
I recommend the OA tracking project (OATP) as the best way to stay on top of new OA developments. You can read the OATP feed on a blog-like web page or subscribe to it by RSS, email, or Twitter. You can also help build the feed by tagging new developments you encounter.