I think Times' business model will fail, simply because one pound per day is too much. For that you get access to all the online content, not just the story clicked. But the reader may not want that. The solution is micro-payments. Front page free, each story clicked costs a totally negligable amount - 1 or 2 pennies. Found myself across a dinner table from the editor of a major newspaper some time ago. This topic was disussed at length and it became clear that only micro-payments can solve the problem. Technology is not quite there yet, but Google is said to be working on it.