You can't search on words in a graphic. You can't cut and paste individual parts from a graphic into a word processor. Think of it as the difference between a photocopy and a text file. Individual files for individual articles offers more flexibility for you. Download time would crawl.
Text is much, much faster than graphics.
Print time would crawl too, and waste a lot more toner. The Web is a different and unique medium than paper or TV or radio. MagWeb plays to its strengths and speed. We duplicate content, but not format. An article on MagWeb is the same as an article in a magazine.