Bought the first two issues, it's not bad. Second issue was an improvement over the first, especially the text articles. It does need to get over itself and not be ashamed to be a comic (ie the front cover).
I wouldn't subscribe to it as you don't know just what is going to be in the future issues as they will be catching up with their original american editions. It does need more original UK sourced comic material (although saying that Rex Royd is for me the low point of the issue) to become more than a larger format reprint ala Panini MWoM etc.
Still, as a UK comic it is to be encouraged. But don't buy it ahead of 2000AD, Megazine or even Commando. It does fill a gap that may be better filled by Strip Magazine that comes out next year.