There is less content than before. That's a basic fact.
Actually, no, it's not.
The complaint that Dragon and Dungeon are on a steady downwards slide in quantity and/or quality of the monthly content is a perennial one. It goes back to the print days of the magazines, under both WotC, Paizo, and even TSR.
Quality, is of course, subjective. Quantity is a bit easier to measure, as you can compare page counts and/or word counts. But even fan analyses of magazine content amount often get skewed by subjectivity . . . do we count editorials, columns, book reviews . . . or does only "crunchy" articles count? Or, worse yet, do only articles that *I* like count?
What I find fun in these cyclic arguments, is when somebody finally breaks down and actually compares page counts of issues over a spread of time. In almost every case that I can remember, page counts of course vary, but vary up and down and rarely trend either way.
What about now? I have to admit, I'm not as enthused with Dragon/Dungeon content myself as I have been in the past. I have no specific complaints, other than a lack of enthusiasm for the new monthly content and vague feelings of, "There is less of what I want to see now than there was in the past". But I've got better things to fill my time with than over-analyzing the issue . . . and I'm experienced enough to know that my preferences aren't necessarily the same as other gamers and that it is pretty unlikely that there has been a serious drop in quantity or quality of the magazines.
As I said in my earlier post . . . if you personally feel the magazines aren't delivering what you want, that's fine and fair. If you feel there is less content, that's fair too (but not some sort of inarguable fact). But to freak out over months with less business days getting somewhat less content . . . gods, I could care less! Damn you WotC and your laziness during the month of February!!! Arrggghhhhh!!!