I tried Time Magazine (U.S. $4.99) and Popular Science ($4.99) magazines on the iPad. The both look striking on the luscious iPad screen, but neither one really excited me enough to get me to subscribe. Time had nice use of video. Pop Sci looked stunning, but didn't have a lot of text. I think both magazines will need to come down below 5 bucks an issue to attract readers.
For news, I liked Reuters News Pro, the new NPR app and the New York Times Editors' Choice app. All are free, and make clever use of the screen and finger gestures. USA Today looks nice, but tends to crash and has some confusing navigation. Sometimes I clicked on one story and got another. I'll be patient with them, because they have some sharp coders and I know the app will quickly get better. Be aware that the USA Today app is free for now, but will cost money at some time in the future. The AP News app (free) is a bit of a mess. It has some clever ideas, but the stories are reduced to little thin strips and a lot of screen space is wasted. I don't want my news apps cute. I just want the news.
The Netflix app (free, but requires a Netflix subscription) is a major win. I tried a 2 week free trial, and the streaming movies look really good. The selection isn't always in line with my taste, but I'll probably sign up when the trial ends. Kudos to Apple for letting them in. They are certainly a movie competitor.