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As I live in germany, but come from the uk then I would seriously consider buying quite a few magazines digitally if the prices were reasonable, currently my options for magazines I used to buy regularly are to subscribe, just by them every few months when I am back in the uk or paying at least 50% premium on the cover price to buy them locally with none of those options being exactly ideal.
One thing I would also consider is trying new magazines if the prices were cheap enough e.g. imagine publishing release some of their magazines as iphone/ipad apps and at least some of them are under £1.50 and for that price I'd give them a go for sure, so by pricing like that they could easily end up gaining readers.
As far as drm or being a proprietary form, that just wouldn't be an issue for me as I don't tend to hoard magazines and chuck them in the recycling once I am done with them.
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