Then you may want to discover and use ASAP :) this bottom-up, scientist driven initiative: “the Self-Journals of Science” (www.sjscience.org), before big projects with wrong goals occupy the whole space.
The uniqueness of this platform is that it has been designed to value what is valuable in science and promote top quality. Its new community-based mechanics also colaterally trigger openness and collaboration, but focus is first on quality. This new approach is presented in http://www.sjscience.org/article?id=580 . This piece is open to peer-review, so you are very welcome to participate and share you thoughts as you just did about ASAPbio central service in this post.
Brian, before launching a new journal, you may also want to consider using this existing platform, that may be already achieving what you want, but with a unique model of open governance (it is NOT a journal, e.g. it has no board of insiders who can control the system to the detriment of outsiders)