I think $40 is cheap for 12 issues and all that reading time. It's about the price of taking my wife to see two movies, and for me, that's totally worth it.
I think that you should try both for one year. Order both online together for: $75.90. That's less than $3.17 an issue.
I have to agree completely. Let me first say that I am flabbergasted every time I see one of these threads pop up, because to me it's a no-brainer. I subscribe to both magazines, for the cost of $75 a year, or roughly $6.25 a month, otherwise known as "one trip to Taco Bell every four weeks."
Now, I'll admit that I don't use
every article in
every issue, and nor do I feel that I have to in order to get value from my subscriptions, but I definitely get my money's worth from both magazines. If you think you'd buy 5 issues during the course of the year, then it's worth it to get the subscription.
If I think about it real hard, I'd have to say that the main reason I subscribe to
Dungeon is to mine adventure ideas (in the past four years I have used only about 4 adventures from the magazine wholesale, but I pick different elements from different adventures and adapt them to my homebrew all the time) and to rip maps and NPCs ready to use. If my PCs are going to storm an evil temple in my next game, I'll scan some issues for an appropriate temple set-up and use it, maps and NPCs and all.
I'd have to say that the overriding reason I still subscribe to
Dragon is for the
Bazaar of the Bizarre series (please guys if you're watching/listening give us more low-budget magic items in BotB), the
Core Beliefs series and of course
Class Acts. And you can't go wrong with the
Demonomicon of Iggwilv series. But all in all, it's the shorter articles that sell it for me, rather than the longer focus articles each month.
The way I see it, if I use even just one article per magazine per month, I've gotten my $3.17 worth. If I use more than that, then I've gotten the best deal I could ever hope for. For me, every year when it's time to either re-subscribe or let it lapse, it's a no-brainer for me: keep 'em coming my way.
Of course, your ideas of a good value may be vastly different from mine, so it's hard for me to "sell you" on a subscription. But let me just say that I've been a subscriber to both mags since about 1998 (including several years in grad school when my budget was very tight), and they are without a doubt better today than they've ever been.