Well, that depends on where your interests lie. I buy Tactical Knives, Knives Illustrated and Blade. Here are my thoughts:
Blade - Good technical and how-to articles for makers/wannabe makers. Collector information. Less emphasis on the tactical side, more Bowies, artsy damascus pieces, camp-y/hunting type stuff. The magazine looks nice and thick, but near the end is mostly ads for about 20 pages...
The recent "roll over and die for the lawyers" editorial in this publication will not stop me from buying it, but if it means that there will be less "tactical" makers, reviews and content featured then that position will change in a hurry. The "Dream Teams" issue is nice. (I want that Microtech/Lightfoot LCC on the inside back cover now!!!!)
Knives Illustrated - Great magazine. Better balance of content than Blade I think. Lots of maker profiles/shop tours. I think I actually found out that there were many great Canadian custom knifemakers by reading KI. They have always had an international focus, profiling makers from all around the world. Unlike other publications, websites and knife dealers who think that the earth ends at the U.S. border.
Tactical Knives Slick magazine. Being a tactical fan, this is my favorite magazine. They review the knives that I buy, (usually after I've bought them though!) A little on the thin side, especially for a magazine that is only published quarterly, but I read it from cover to cover unlike the others...
Fighting Knives was really good before Blade bought and killed it, except for Greg Walker going on about how great it is to be a Green Beret and a Christian each and every issue...
Oh well. That was long-winded. Enough.
PM