After some deliberating and discussion with my students and post-docs, I have signed the boycott of Elsevier at http://thecostofknowledge.com. I encourage those reading this to do the same.
I am, of course, not an editor of an Elsevier journal or of any journal. I have published in two Elsevier journals in the past: Journal of Computational Physics and Applied Numerical Mathematics. Both are good venues, but I have not been overwhelmed by their handling of papers in the past (they even introduced an error in one of my papers). There are plenty of good alternatives with lower subscription prices. Hopefully there will soon be even more.
I have also refereed for both of those journals, but no longer. For those whose low-quality papers I have been rejecting, now is your big chance. Submit them to JCP or APNUM and you can be sure that I won't be one of your referees.