The word “Magazine” doesn't quite sound right anymore in the multi-channel world of content. “Blog” fits a bit better but it could be we just refer to the title of the content (whether single author or aggregated authors) like “Druge,” “Daily Beast,” “Talking Points Memo,” “Lifehacker” etc. whether it's consumed via pc, mobile, tablet, app etc. “Magazine” probably becomes term of legacy print form. A hot section of a magazine with it's own blog might just be known by the blog like (Andrew Sullivan at Atlantic for example) or Page Six at the Post. I think the overarching media wrappers will exist but many people will “follow” the branded column, blog, vlog … basically technology is allowing the core personality to dominate and take their audience with them (like Sullivan took his blog from Time to the Atlantic Monthly in 2007). That's a big threat to media companies as it's easier than ever for brands to be individuals and not corporately owned.

Bottom line is that the Tablet (and content stores like iTunes) do represent fundamental change to micro content, long-tail purchasing. The trends were there before the Tablet. But it likely WILL generate the buzz needed to make device-based content consumption — no only text but tv news, shows etc. — become main stream.

We'll know a lot more by the end of the day!

The general term I've heard for digital versions is digipub or epub. Regarding the lower price for print that has been the market norm for monthlies for a while now. And I'm not sure many magazines would have takers even if they were free.