Reading magazines is not particularly wonderful on the iPhone (or in my case the iTouch). The screen is just too small for reading many magazines because of the multiple column format. Business magazines like newsweek and Newsweek, read well on the Kindle, but anything with a lot of photos or graphics is marginal, both because of page rescaling and the limited grey scale on the Kindle1.
Kindle2 folks may have a better experience.
Good luck on your project. Suggest you add additional tags to your post to include some of the other ereading devices such as Kindle, Sony, Illiad, etc.
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