First thing we'll do is kill all the obit traffic ...
OK, it might not be as prosaic as kill all the lawyers, but I was struck by Paid Content's report that one of Journalism Online's first clients to go public, the Intelligencer Journal-Lancaster New Era, planned as one of it first tests to put its obits behind at least a partial paywall: In Lancaster, publisher Steinman Enterprises will charge readers outside the circulation area for access to obits, starting with a certain number free and then requiring a fee.
It's an interesting move, since obits are one of the most popular landing points at many smaller papers. But I'm not sure they are one of the most monetizable, at least not this way.
I don't know how many you'll get free, so it may not make a lot of difference (unless you are some kind of serial mourner or have some very large - and aging - family). But I have argued here before that the best way to make money off the out-of-towners would seem to me to be advertising from those who cater to the mourners. Using the Salon model, have them watch a 10-second ad for the florist and then have that morph into an "order here" button. Get the premium for pay per click.
It seems to me there are other alternatives for getting obituary information. Put up a pay firewall, and are you actually losing potential, premium income?