Well... neither HP nor Microsoft. I think Xerox is the way to go here... weird, huh? This magazine's production comes in two parts - the aggregator and the production device. Xerox has the tech for on demand printing, collation, and binding. Embedded firmware that could handle something like rss with enclosures and css formatting could handle the hardcopy end of it. A personal unit would be good - networked would be better.
On the computer side, a "send" addin that installs as a printer driver, or in the standard file menu. It allows you to add document items to a queue, or possibly multiple queues (my magazine, department magazine, project magazine, etc.) Build optional folksonomy tagging into the driver, as well as categories.
Arrange your magazine like a real mag - front of the book,correspondence, back of the book. Specify your own categories, and tag across categories.
Integrate a desktop search into your magazine choices, so you can pull related items together later and publish as a booklet.
Build Steve Gillmor's attention into it, once attention has something. Use it to add inferential content in limited amounts to keep your magazine fresh - you won't know everything that's in there until you read it.
Back to the printer portion - the real kicker here is if it's networked and uses a standard, you can start producing on-demand narrow niche magazines and paper blog aggregates.
Combine that with something like nowpublic and produce edited local inserts or standalone magazines.
There's way too much here, so it's probably a really good idea :)
