I picked one up at a pet store to see if I thought it was worth it, and found that it was an advertising vehicle more than anything else - very few actual "articles."
And to be honest, the hundreds of breeder ads in the back pages just depressed me.
Obviously, I'm not against breeders in general, having just adopted my 2nd Bengal from Meridian Bengals, but the sheer volume of those advertising in that mag (rag?) seriously bummed me out.
I think it is NOT worth subscribing to. I keep looking for issues that may have at least one article in it worth reading, but I have found SO much more important info on cats here on TCS than I've ever seen in Cat Fancy.
I did, and plan on subscribing again, but for different reasons: The subscription fee is much lower than purchasing it monthly in the store, and I find it to be the easiest way to get information on upcoming shows. I also plan on getting a subscription to Dog Fancy (just for the heck of it!) and I *love* Bird Talk, by the same publishers, even though we don't have any birds! LOL
I suscribe to Cat Fancy, not so much because of the articles any more, but because I like to read the ads, in order to keep up with the products now available.