Thank you MatthewClement for your comprehensive explanation which, IMHO, clears the air about this enterprise.
Since I never read the Radisson board and rarely look at S.P.A.M., I wasn't aware of the ValueMags promo until this thread. But after further examination, I'm now a Gold Rewards member, have $200 of new or renewed subscriptions to magazines I already read, took advantage of the ebates discount, and will be able to add 20K+ of AA miles at $0.008 per mile--a pretty good deal all around.
For those of us used to going to great lengths with convoluted schemes for miles and points (the AAdvantage 20/20 promo comes to mind), this particular promo is an easy one to DIY. For the vast majority, though, what these two FTers have set up is the more likely answer, and I kind of admire their enterprise in setting it up...