I think that many 'photographers' buy photographic magazines to be inspired, to look at the pictures, to feel like they are taking an interest in their hobby, and mostly it's an excuse/compensation for not going out an taking pictures.
Lets face it, if you've bought more than 5 or 6 magazines in the last few months there can't be much out there that you haven't already read. But this holds true for almost all hobby magazines - I'm a some-time Carp fisherman (in the summer) and the multitude of magazines available for this 'sport' are numerous, and they too repeat and rehash the same information over and over.
As for the freebies - well almost all the mags now have Photoshop 'how to' CDs. I'm a big PS fan (you may have noticed

) but I seldom use these, if there is a particular technique I want to look at I usually YouTube it.
I recently bought 'Turning Pro' (2nd issue) and read it from cover to cover, as it was mostly full of 'true-life' stories of how a pro became a Pro. Interesting, informative, inspiring and in many cases demonstrated that if you have the passion and a good eye for composition then the only other quality you need is enough 'front' to blag your way in to the profession!
Information overload? Probably - it's confusing for a beginner. And really all they need to focus on are the basics - how the camera/lens SS, Aperture and ISO combine in different ways to create a picture. Then of course they have to go out and take pictures.