This examination of the open network architecture (ONA) concept and what can be expected as it is currently being implemented begins by defining the open architecture concept as the term is used in the communications and data processing fields. The marketplace benefits that flow from an open architecture are then summarized and the additional public policy benefits that could be achieved if ONA principles were applied to local exchange networks of the Bell Operating Companies (BOCs) are described. The Common ONA Model put forth by the BOCs is compared with the definition of a true open architecture, and it is concluded that the Common ONA Model represents a closed rather than an open architecture. Noting that this places the marketplace and regulatory expectations of ONA in doubt, it is argued that there is little incentive for the BOCs to embrace a true form of open architecture. Another policy option is recommended which suggests abandoning the idea of further unbundling of the local exchange network; instead, it calls for a legislatively mandated program for encouraging--rather than just permitting or, even worse, discouraging--competition in the provision of ordinary local exchange service. (GL)