I adore the expensive glossies and I grew up when I was a youngster with a subscription to Flying magazine here in the US. I will always prefer a richly illustrated paper magazine and some time to sit down and read it front to back. It puts you in a different mindset and improves the experience, IMHO.
That said, purely from an objective point of view, monthly paper is inferior in almost every way to the internet, and I expect paper aviation publications to go the same way as the rest of them.