I bought last months LinuxFormat and it had really lost it's soul. The magazine seemed to have already died a few months before.
The main thing about LF 2-5 years ago was the humour. I think there was some kind of handover from AmigaFormat where you had guys like JonoBacon taking over. The big thing though was that it had a sense of humour. It was very funny, and in a British way too. That made it stand out from everything else, only Micromart sometimes had something a bit like this but that's been inconsistent.
Jono Bacon went on to Ubuntu as community manager and also wrote Art of the Community (which I'd like to point out is currently down from ~£40 to £4 on Amazon!). Kind of a shame the old crew aren't back together in entirety. I hope this new project can grab the attention.
I can see lots of people talking about the community donation aspect but for me the first thing that struck me was that this could have elements of the LinuxOutlaws style humour to it too. That would be great but it's no guarantee.
Having a community involvement in any way makes the whole thing that more interesting.
By the spirit of RMS I bless this project