Ithaka's 2006 survey of US faculty members and librarians sought to determine their attitudes related to the transition to an online environment for scholarly resources, preservation, teaching and learning, and related subjects. This talk will examine the strategic implications to libraries and universities more broadly that emerge from faculty attitudes and perspectives such key issues as: - Attitudes towards the transition away from print format, especially for scholarly journals; - Perceptions of libraries and their value, including specific library functions, and how these perceptions are changing; - Attitudes towards preservation of both print and electronic resources; and - Preferences that lead authors to choose among scholarly journals in which to publish their articles.