I read almost everything, given my 1hr and 45min commute in and out of NYC every day. I finally started paring down the list, not renewing certain magazine when the subscription expires.
View Camera and Phototechniques no longer make the cut. The part of View Camera I'll most miss are the occasional large format color portfolios. This is work you won't see elsewhere, given the usual fine art=B&W prejudice of most "prestige" magazines. Phototechniques has seriously lost its way. Bring back Mike Johnson!
Lenswork and B&W (American) I buy about 50% of the time based on the content of a specific issue.
Camera Arts still has the potential to be a signifcant magazine. The portfolios are often excellent, but the product reviews are superficial and bland.
B&W (UK) is too much of a amatuer, camera club, digital combination mish mosh to appeal to my sensibilities, though the historical portfolios are very good.
I'll continue to subscribe to Popular Photography. Why? Its about a buck month for the subscription and it keeps me up on what's going on on the consumer side of things. (Don't your friends often ask you what camera they should buy?)
My single favorite magazine, the last one to go, is PDN. A great mix news, pictures, technique and significant photojournalist portfolios unmatched by any other publication.