I had news this week that my story, 'Job Satisfaction' has been accepted for Plasma Frequency, a new magazine of speculative fiction.  I'm not going to get rich on the proceeds, but it's great to be seen in a new publication.  Who knows where this magazine might be in 10 years' time?  It could be a respected SFWA approved market, have vanished completely, or have a cult following.
Submitting to a new, or relatively new, magazine can be chancey.  Will the editors deliver what they promise?  Will the standard of writing be one you're happy to be associated with?  Will the magazine keep going long enough for your story to appear, or for you to be paid?  Many new magazines are a labour of love run by enthusiasts with a passion for short stories and/or the genre.  They sometimes have to fit working on these magazines in between their 'day job', and unexpected personal events can get in the way of schedules–just as they do for writers.  So, if you send a story to, or have a story accepted by a smaller magazine, and you don't hear anything from them before their stated response time has passed, give them the benefit of the doubt, give them time and when you get in touch to find out what's happened, be polite.  You might be dealing with the Asimov's or Strand of the future.