Marine Protected areas can have various degrees of protection from pure No-take areas to allowing certain types of fishing. I would suggest looking into periodic closures. However, no take reserves have been known to sometimes take decades before detecting benefits to fisheries (such as spill over).
This article might interest you as it looks at long term benefits (and so might indirectly) help you determine the consequences of re-opening marine reserves.
Yes, it is a lot of studies of the effects of marine reserves. We are working closely with municipalities here in Norway to implement coastal marine reserves. However, the politicians (for obvious resons) want to have a time limit for how long the reserves should last. It would therefore be of interest if it was a good study out there documenting the effects of opening up a reserve.
I have been looking for the same kind of study myself, and after exhaustive searches have concluded that there are none! Natalie's suggestion of looking at periodic closures is the closest thing you will find right now. Sorry for the negative answer.
The most comprehensive study I know of, that attempted to answer the question was the work by K. Sainsbury and others as part of a long term study on the effects of trawling on the benthos. They sampled Low trawl sites that had zero or very low trawling in the five-year period prior to the survey, and also medium and high trawling sites that had been fished reasonably consistently throughout the five-year period and in an increasing fashion. See the FRDC site and search for "Sainsbury" and "trawling" on that site: