There are two Prototype Railway Magazines that are available on-line

If you are interested in Modern Railroading in the real world, have a look.

International Railway Journal

You can read the current issue here: International Railway Journal - January 2009

Railway Age

You can read the current issue here: Railway Age - December 2008

If you use your browser to subscribe to the RSS feed, you can read all the issues back to 2006!

The January 2009 issue of Railway Age is now available online.

For the MOW fans, there's also Railway Track & Structures.

The January 2009 issue of Railway Track & Structures is now available online.