Sharon, we have essentially done what you describe.  The faculty in each
department select regardless of format.  So far, the selections have been
very judicious and carefully done.  They do this in collaboration with the
librarians, who remind them of the continuing cost of a serial.  The first
year of a new subscription is charged directly to the department budget -
after that it is made part of our general subscription budget.  We have had
no particular difficulty with it, so long as the collaboration remains a
strong link.  This year we will ask the faculty to reexamine all subscriptions
to see if some can be dropped.  It should be an interesting year.  John Piety
Director, Grasselli Library, John Carroll University.