Shock Totem looks like a great market. I like the fact that it bills itself as a straight-forward horror market; there are far too few magazines and publishing ventures that are willing to hitch their cart to that term.
The production quality of the sample issue on the website looks great, and this statement clearly speaks to a sense of self confidence:
The Golden Age of Horror Begins in 2009
Shock Totem pays a professional rate of a nickel a word, up to a $250 maximum payment. I think one of the things I'll be doing in 2009 is changing the complexion of my magazine subscriptions. To that end Shock Totem and Doorways are the early favorites for inclusion in my meager (four subscriptions) list.
By the way, those of you looking for a high-quality magazine of dark fiction should take a look at Something Wicked Magazine. It's consistently bursting with fresh fiction and interesting interviews. Also, John Connolly has written for the magazine. Do yourself a favor and pick up a copy of Nocturnes (the collection I'm working on currently; cover at the right of your screen). Connolly's work is strong--vivid and chilling and beautifully written. "Some Children Wander By Mistake" is the best story I've read in a long while--up there with Gaiman's "How To Talk to Girls at Parties" and Joe Hill's "Involuntary Committal."
Great stuff. So, long story short--try Something Wicked and Shock Totem. Read John Connolly.
Enjoy your day.