I've looked at the offer on LensWork's site, and the three year sub is a remarkable savings if you've got the hundred bucks or so. (BTW, Am I mistaken, or did I see some color work in the advert for the print magazine? Not that that would be a bad thing, but it would be a major departure for sure.)
I stopped subscribing a few years ago because the price was just too steep for issues that I sometimes had absolutely no interest in, and the news stand availability was eliminated for purchase on a per issue basis as an alternative. I may consider resubscribing now that there's a better deal. OTOH, the PDF version is just one more on-line, transmitted light set of images that don't have the power and presence of actual prints, or the high quality magazine reproduction that LensWork is known for, so that'll be out in any case.