Hmm... I think what constitutes "indie" and "commercial" can be a little blurry. I personally would put every edition of Vogue as commercial, because (when given the opportunity), I do read magazines like V, i-D, and Numero. When I consider society as a whole, however, I can't really think of any of my close friends that read Vogue US- they all say it has too much fashion. It's "commercial" in that it turns large profits and is certainly the arbiter of taste and style in the American magazine cannon, but it's also kind of niche- most of my college girl contemporaries, as well as their mothers, subscribe to magazines like Cosmo and InStyle, which are much more commercially successful overall.
Given that tiny soapbox rant, I know that the nature of this question is (obviously) geared towards the fashion set, and I'll just go ahead and say that, while I certainly read indie mags in store, I subscribe to the heavyweights- Allure, Vogue, Harper's. The editorials tend to feature more wearable looks on the most high quality models, and I'm a sucker for a good article (which Harper's has in spades) and how-to articles, like Allure's.