Among the weeklies, both AW
&ST and Flight Int'l are excellent, although lately I have found AW
&ST to be a bit lacking in the commercial aviation department. Flight has maintained a balance between commercial and military that is more in line with my personal (and business) interests, but of course that's a matter of taste. I still subscribe to both, though.
However, if you are just starting out as an enthusiast, and are looking for more general coverage of airline-related topics--as opposed to a time-sensitive, news focus--both Airways and Airliners are very good. I recently let my subscriptions lapse--I just didn't have time to read everything!--but I still enjoy picking one up in a bookstore from time to time.
As for non-English publications, I agree that Air et Cosmos is great, and I try to snag a copy whenever I'm in France. As an added bonus, it's good practice for my French, which gets terribly rusty otherwise!
And yes, you are absolutely right--this and other websites are a great way to "keep your ear to the ground" and hear news before it hits the headlines!
Common sense is not so common. -Voltaire