I've subscribed to the New Yorker for about twenty years, through various editorial regimes. I think it's the one essential magazine.
The downside is that it's impossible to read it all. And a new one comes long before I've finished the old one! So they tend to pile up. I try to be really disciplined and throw the old ones out as the new ones come in, but I'm not very good at that, so I've got a lot of New Yorker clutter.
Other downsides are cartoons that sometimes don't make any sense, articles that sometimes go on way too long, and ads that appear to be aimed at people with incomes astronomically higher than mine.
But the good far outweighs the bad. The good includes the opportunity to discover amazing fiction writers early in their careers; to get in-depth analysis of current events, enabling me to understand the world in a way that would be impossible from TV and newspapers alone; to enjoy humor articles that can make me laugh out loud even when I'm reading in public; to have the sheer pleasure of reading well-crafted prose and learning about random things. And, oh yeah, some of the cartoons are wonderful!