I have only been a member for 5 or 6 years, so my input is based on a small segment of time.
The only reason after my 1st year of membership was up that I renewed, was the club magazine.
If the magazine is totally discontinued I would not renew my membership when it comes due in September.
I have been to several conventions and had a great time and met many nice folks. Getting non members to attend the convention is critical to help the survival of the club the way I see things.
If attendees like what they see at the show they may join the club at that time. I joined the club at my first convention I attended.
My solution to this quarterly club magazine issue is as follows. ( If saving money on printing cost for the club is that critical ) :
1. Only print ( 1 ) magazine a year and that would be the Convention issue.
2. Combine the small convention magazine that is currently printed and handed out to attendees in with the large format club magazine and save those print cost.
3. Since club members would have this magazine mailed to their residence they would not receive an extra copy if they attend the convention. ( BYOC )
4. Only non members would receive a copy of the Convention Issue Magazine with their paid attendance packet. ( Historical data from past conventions would determine quantity of magazines needed )
5. Unused copies of the convention issue would be saved and sent to new members who join the club during the coming year as a bonus for joining.
6. There are numerous other issues that would need to be worked out, but to try and satisfy everyone is impossible. A compromise by members is definitely going to be needed.
7. This would not cut out our club magazine totally, but should save at least 50% or more of current yearly printing cost.

P.S. Just one option to consider that does not do away with the club magazine all together. Lets hear some ideas from others !