I think it's improved over the year and a bit I've been a member. I particularly like the running reports.
As for improvements, I think it's difficult as it relies on members to contribute. I want to see loads of in depth information on the E36 328i coupe, but that's a very narrow view and only of relevance to the small portion of the membership who drive one. Others will want to see the social side covered more/less - others still will have very different ideas as to what the social side should be! The list is endless...
I think the best way forward is for folk to get involved in their local region/register and get interest, activities and knowledge up there. This will then eventually begin to trickle in to the mag. I also think this set of fora will help and the more folk we get on here, the better it will become. Some of the technical stuff discussed on here could then either be used as a prompt for an article or even as the content of an article.