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Many scientists were miffed by the introduction of the Research Works Act, which would roll back the US government's open access policy for research it funds. Some of that annoyance was directed toward the commercial publishers that were supporting the bill. That, combined with a series of grievances about the pricing policies of one publisher, Elsevier, has now led a number of scientists to start a boycott—they won't publish in or review for journals from that publisher.
F1000R could serve a purpose. But, I don't imagine that I'd have the time to look through papers before they were reviewed. Maybe I am wrong, but I imagine that there is going to be a lot of fluff in there.
That said, peer-review can be a pretty inane process. Sometimes reviewers simply ask for more experiments that will expand the scope of the study, but have no bearing upon the quality of the study itself. Sometimes peer-reviewers seem more interested in building a concise paper, than they are about determining if the science or experimental setup is sound. PLOS One is a fast open access peer-reviewed journal. It manages to get articles published in a timely manner, and keeps the crap out. Thought experiments would be fun to read, but think they should have their own home.