Each of these themes was tested on 7-22-2009 and worked with the latest version of Wordpress 2.8.2. I will list below the Best Magazine Style Wordpress Themes.  Leave a comment if I missed any real good themes.

Forte 2 Column Blog, Magazine & List Styled WordPress Theme
Description: A 3-in-1 theme where you will be able to select you layout of choice from your theme admin panel, the choices are a (normal) blog layout, a Magazine styled layout and a List styled layout,
Theme Preview:
Forte Wordpress Theme
[View Demo] Download Theme: Here

Small Magazine Wordpress Theme

Features