You get what you pay for.
Truth: Traditional textbook publishers do not guarantee high quality content. In addition, the content has often already been "paid for" through research funding.
It takes too much time and effort to select and implement OER.
Truth: More and more openly peer-reviewed resources are becoming available, which can include exercises, quizzes, and even accompanying PPT presentations, just like a traditional textbook with a CD tucked in the back.
No one will work for free.
Truth: Open publishing frequently increases the visibility and reach of an author's work, paying off in ways other than royalty checks. Plus, Creative Commons licenses frequently afford an author more control over their work than a restrictive agreement with a traditional publishers.
Students expect traditional textbooks.
Truth: More students register for sections that do not require an expensive textbook than those that require the purchase of a $250 book.
The OER model is not sustainable.
Truth: Many business models, are being explored and expanded as the demand for OER grows.
Source: http://oer.umd.edu/myths
Open Textbooks
Directory of Open Access Books (DOAB)
National Science Digital Library
Complete Courses & Course Materials
Open Learning Initiative - Carnegie Mellon University
Saylor Academy: Open Course Resource Center
Recorded Lectures & Video Tutorials
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