I wish you well... but here's a few (honest) thoughts.
Like others mentioned, print is struggling a lot. Why do you think you will succeed when many publications with big budgets and names (like Newsweek) failed?
Why do you want to go print + digital instead of digital only? If the purpose of your magazine is to help people sort through apps, how does print help? Instead of searching online, now we have to search through physical pages of magazines AND have to search previous issues too. If you say that's what the website is for, what's the point of having print?
And how will you get stores and stands to carry your magazine? While a weekly publication is pretty fast, will people want to buy it weekly (especially when blogs and websites can offer the same info faster and for free)? If Apple released the new iPhone, I guarantee that blogs and website will talk about it within the hour (some, like MacRumors may even update in real time). Depending when it was announced and your print publication schedule, it could take up to a week for it to appear in your print issue...
You also have a good amount of apps reviewed on your mockup. How are you going to sustain that on a weekly basis? Will you have to hire more writers/researchers (which costs more money)? Will you run out of apps to talk about (yes, there's a lot of apps out there but there's also a lot of junk)? How will you review apps that cost money (and how will you find the money to buy them if need be)?
I'd highly suggest you think this through some more. Don't get me wrong...I love physical items as opposed to their digital counterparts. But to write that "The only risk is that we can't bring the magazine to life, soon" is incredibly naive and doesn't address the current realities of print media at all. I don't think many people will want to invest in your project with a risk assessment like that.
I know it's probably not what you want to hear but you did ask for thoughts and I'd hate for you to fail because you didn't think through everything enough.
