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It's not a totally new idea to sell content on portable media. Way back when Verbatim might have included a trial version of software on a floppy. But that was a case where you're buying the media and, by the way here's some content to sample. Here we have a magazine selling you the content and, by the way here's a hard drive to use for other purposes.
http://www.newyorkerstore.com/product_details.asp?sitetype=1&sid=122751&did=8&affiliate=TNYS_CHD4
I wonder what happens when the head crashes? Do you have to buy the content again?