I printed the PDF magazine Noctem Aeternus this weekend and was very pleased with the quality of the publication. Michael Knost's foreword does a nice job of setting the table for an excellent first issue. Charles Coleman Finlay's "The Rapeworm" and Cherie Priest's "Target Audience" were well written and interesting. I hadn't read either author prior to this weekend, and I immediately placed holds on some of their work with the Jacksonville Public Library.
There's a nice blend of non-fiction to go with the stories here, though I'd say the interviews could improve a bit. Campbell and Zombie are a pair of solid subjects, but the questions never really go beneath the surface to touch on anything that sounds new or insightful to the field of speculative fiction.
All in all, though, this is a great market. I look forward to future offerings from Knost and will encourage my students to sign up for this one.