As has been said teh print media has been dying a slow death for a whiel now, and I for one am pretty sad about it. I remember when Speed came out it really forced the other magazines to try a bit harder, then when it left Auto Salon sort of picked up the ball, with high quality photography and interestign features.
The main issue with the online media I would suggest is a lack of exclusivity. Back in the day I remember heading down to the newsagent to pick up Hot4's because a mate's car was on the cover (it was rice, but this was a long time ago, lol). It was exciting and there was a fair amount of pride in the fact that the car had been deemed good enough to be worth the cover and a 6 pages spread. Now anyone can put up a blog and have a heap of people see there car (or opinion), regardless of whether it is shit or not.
I guess Speedhunters are one avenue that maintains quality in its content (for the most part) and I personally hope that that trend spreads so that the good quality cars and events will still get the recognition they deserve