I haven't been able to even read it in several years. My personal hypothesis is that the editors think way too much of themselves, so see the thing as some kind of world-historic theory journal now. The level of abstraction is stratospheric, yet, to my eye, the thinking is pretty damned stale. If you're going to stay in the eagle's aerie, you'd better have new things you're noticing. Instead, I usually see recent NLR pieces as something akin to the newspaper translated into post-leftist jargon. "Are we experiencing a transition from hegemony to dominance?" That's a Big Idea from this last issue. Zzzzzz...
Personally, I also find the quality of NLR has about a .9 positive correlation with its degree of association with Fredric Jameson. The more often they publish his stuff, the worse the whole thing gets. He's a pretty good thermometer of decline, IMHO.
It's kind of funny that they'd turn down the sub trade. I don't miss NLR in my mailbox, ever.