from http://www.biblicalgreek.org/links/erasmian.php an explanation for all who find the Logos Earsmian pronunciation "wrong".
For a technical discussion of Koine pronunciation see http://www.biblicallanguagecenter.com/wp-content/uploads/2012/08/Koine-Pronunciation-2012.pdf
This book: http://amzn.com/0310515955 (which needs to be in Logos , has a nice section on pronunciation, arguing strongly against the Erasmian approach but recognizing the challenges with pedagogy.
Donnie