The download includes one grey and one colour emag.
Out of 28 pages, 24 are the contents.
The contents of this first AoS magazine are:
The Hideout: A mini adventure set in a small cave system
Filiki's Axe: A magical axe with random effects.
Cavern Crawler: A new monster.
Arengar's House: An encounter location and NPC.
NPC name tables: Elf, Human and Dwarf male & female names.
What the guards have to say: Conversations for the PCs to overhear.
The colour magazine includes some rather nice colour maps and art; while the grey emag has black & white art.
Both are good.
At £1.47/$1.99, it's worth the price (and the candle).