Much as I will champion the cause of the printed magazine, I will admit that on-line stuff is easier to explore. Granted, most of the stuff you find is of questionnable quality, but once in a while you do find something good. The only thing that annoys me is that when I find the good magazine I wish I could have it in front of me - I hate reading on the screen, the computer is the place I come for work and correspondence, not where I come to relax with a good story or article.
There are a number of mags that come in the dowloadable PDF format, but it still somehow doesn't feel as good as a little bound magazine. I don't feel as though shuffling through pieces of paper or scrolling down a screen does justice to the effort that people have put into producing their work.
From the Manchester Lit List I found this great magazine: Incorporating Writing. Now if only I could have this bound up nicely to carry around or share with my friends then everything would be perfect.