The topic subject asks about the legality of doing this. Clearly, you would need permission from the publisher of the magazine first. With regards to the coverdis[k|c] software, you would need to check the readme which comes with it. If there is nothing to imply that you can freely redistribute the software, then you should contact the author before making the software available to others.
In your post you asked about existing projects. I have read a few posts here about people considering starting up such a project. What I don't know is whether they carried it out, or whether they even had permission to do it.
I wouldn't think for one minute a publisher like Future would mind having their old mags reproduced. I for one have a box full of old copies of CU and AF. I would be willing to scan them to assist such a project, but not before permission has been granted from the publisher.
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moto
