Is This The Future of Magazines?

Speaking of the future of publishing, check out this video if you haven't already. It's the demo of Sports Illustrated's hypothetical "tablet format" interactive online magazine, designed for the full-color, video-enabled, touch-screen e-reader of the near future.

It's certainly glitzy--eye-poppingly so--but would you pay to subscribe to it? And how much would you pay for the gadget that enables you to download it? (Rumors say that the supposedly-soon-to-be-announced iTablet from Apple will cost around $1,000.) If an interactive Sports Illustrated doesn't float your boat, what about an interactive Vogue? Or New Yorker? Or Vanity Fair? Or [name your favorite magazine]?

I'm skeptical about this being the salvation of the magazine business. But what do I know? I'd love to hear what others think.