Update: An old-time traditionalist (whom I respect greatly) mourns the loss. While I can certainly respect the nostalgia of history and honor that the publication represents, I think its current proprietors have done more than enough over the past few years to tarnish the name in order to justify this fate.
Sometimes we do just have to cut our losses and MoveOn(tm), don't we?
Update: Jules speaks, and as I expected, he has plenty of thoughts. He ain't got no h/t for me bringing him the news, though, so I'll just go back to sitting at the back of the bus over here... As usual. (It's alright, I'm used to it by now.)
Update: NewsBusters explains it all.