Clearly, the community would be best served by the various societies collaborating, rather than having them develop competing strategies. For its own part, ACM is planning to link CoRR with other ACM activities. For example, users of the ACM Digital Library will be able to include CoRR in their searches. ACM expects to develop policies and procedures to make it easy to submit papers from CoRR to an ACM journal. However, there is certainly no expectation that all CoRR papers will be submitted to ACM journals.
Authors are free to submit their papers to any journal of their choice.
And some papers on CoRR may never be published at all in the conventional research literature. The long-run funding situation is not yet clear. The LANL archives have become so important to physics researchers that it is inconceivable that they would let the service be lost. If CoRR is equally successful, surely funds will be found to maintain it. Providing the basic repository services does not seem to be an expensive proposition.