I once subscribed to FAMA as well as Aquarium Fish years ago. I was satisfied with both magazines. Aquarium Fish is targeted more towards the novice, with good articles, easy to understand language, and nice photos. It's layout is very clear and concise and it contains forums for live plants written by Karen Randall, as well as QandA for various aspects of the hobby like Freshwater, Saltwater, and Cichlids. I think they even have a forum for kids and their fish tanks so that kids can send their questions and even have a chance to have their fishy artwork published.
FAMA is more in-depth and is geared more towards the intermediate hobbyist, although novices will also find it enlightening as well. I particularly like the Betta forum, written by Dr. Gene Lucas who is generally considered the world's foremost authority on Bettas. The downside is that it is full of advertising...tons of it. As well, a lot of times, I found that the articles are aimed at saltwater enthusiasts. If you decide to subscribe to FAMA, mention "Pet Fish Talk" and you will receive $2.00 off your subscription rate.
I stopped subscribing to these magazines, not because I was dissatisfied with them, but because I found that any information I was seeking was readily availble on the internet. For example, if I wanted to know about Guppies, I'd find a wealth of information by using a search engine that would cover the topic more in-depth then any one article in a magazine possibly could. However, I found that the articles can be a good introduction and overview of a new area of the hobby that might excite me, but again, I would do my in-depth research on the internet. Just my 2 cents.