If you're wondering where it's all going, here are two similar visions of how the magazine format might be revived by the tablet platform pioneered by Kindle and soon to be enjoined by Apple.
This first video, by Bonnier R&D, is the most artful and simple imagining of the experience:
Mag+ from Bonnier on Vimeo.You might already have seen this vision, of Sports Illustrated:
There's no reason newspapers and other news media couldn't adopt this format. (Even the annual SI swimsuit issue "coming to life" in this demo.) I foresee an explosion in Web development and design to accommodate the tablet/touchscreen form factor.

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