The magazines aren't going to be saved. And the changes in the magazine industry/distribution recently, along with the decline of physical game stores and the way gaming materials are handled by the big book stores and online ones, are likely to prevent a new one from rising in Dragon's/Dungeon's place, at least not for terribly long. This is what I predict anyway.
I'd certainly love to see the magazines remain in print, but it's not happening. Pathfinder is likely to be the closest thing to that sort of media we'll get (though my preference to run more freeform/homebrewed adventures means I won't be picking up Pathfinder myself). And I hope it does well. But Wizards is determined to make their Digital Initiative the only source for D&D content outside of actual, expensive game books and the occasional printed module. Not exactly the most portable or versatile reading material in gaming. -_-
I have little desire to bother with online content of that sort, but I'm not the majority demographic; I actually like printed books and magazines as a convenient medium, and I don't have a Palm Pilot or other thing to read digital crud while I'm away from the computer. I also have no desire to spend more time than I already do in front of computer screens. Print materials are easier on my eyes and a nice change of pace from the daily routine of staring at a glowing monitor while sitting on my rump.
I can read magazines on the bus or on the plane, or while someone else in the family is using the computer. But with Dragon going away and being absorbed into the Digital Initiative, my last 'zine of choice will be gone, and I'll have no more magazines to read; I'm not particularly interested in the few other, lesser choices out there, I have no reason to buy video game or anime related magazines, and I don't care for any other kinds of 'zine.
Anyway, Dragon and Dungeon are going. However much outrage the magazine-buying gamers may release, Wizards will still probably make more money from legions of folks who will shell out moolah for intangible, digital content that's cheaper for Wizards to produce in the first place.
'twould be nice if nanotechnology got really advanced really soon, though, so we could have cheap PDA-type devices to carry around that could wirelessly download articles and display them on a nice, non-glowing, easy-on-the-eyes screen of simple plastic, covering a nanite colony that adjusts its positioning to display nearly as well as a pixelated monitor.