I doubt that you will get people to type in code from a magazine these days. Back in the early 80s it was more or less the only way to distribute stuff like that and not a lot of people had computers at home at that time. But even from the late 80s to the early 90s it became more and more common that those magazines had discs included which had the code and such on them already, and with the point and click generation of these days you will probably have a hard time getting them to type 300 lines of code which they are not even certain that they will be able to use let alone understand or if it even will work.
There could be a marked for a coding site with its own type of electronic distributed magazine, either in pdf form or as an actual standalone exe which loads articles. But it might just be easier to get people to use a website. Everyone is online a lot these days and it will get more and more difficult to attract people to offline stuff. But still I think that there is a void that could be filled by a website/movement where not just demo coding but game making as well could be promoted and that would have enough of a range to attract all kinds of people regardless of which tool they had decided but where it was more generalized in its approach so that noone would feel left out regardless of technical knowledge.
Not sure the above makes a lot of sense, but just some input on the subject matter. These days you just do not know what will become the next google, facebook, twitter, etc. and especially gaming and game development is jumping leaps and bounds currently and is posed to overtake hollywood movies and music in revenue and everyone and their brother wants go get in on the action it seems, so there could be a large potential for the right idea to gain a large following and potentially make some good money. Its just a matter of getting the right idea. The world is full of ideas and it is always good to throw ideas out there, you never know you might find the right one someday.