I went through Ingram's 2005 sales figures for a few dozen indicative titles over the weekend. I have to say ACW sales ranged from "subdued" to "miserable." Even Sears and McPherson look spent to me.
Don't know if "the effect" will take hold sooner or later. "The effect" would be sales forces rejecting ACW titles suggested by editors. That translates into higher ms rejection rates. That should translate into more good publishing on demand or digital books, but at this stage in the evolution of ACW publishing doesn't.
So, low sales means fewer titles.