The "open access journal" meme has trotted about the biblioblogosphere recently (sorry, no links handy, but you know it has). In reading an economics blog (Truck & Barter), I came across a post linking to the Directory of Open Access Journals or DOAJ.

The listing of religion journals (26 of 'em) is available: DOAJ Religion Journal Listing. 

There is also a listing of Languages and Literatures Journals.

FWIW, the post and lone comment on the Truck & Barter site about sum up my thoughts from an economic point of view. But have fun with the journals -- there are a few in there that look like they may be worth checking out.