Just my thoughts...
I read a lot of fanfic on the net and like the ease of acess and minimual expense. Judith's online library in particular is a great way to find stories. I've put a few pieces of my own fanfic on my website and the exposure and feedback that the web provides has been wonderful.
However there is something nice about curling up with a shiny new zine to read in front of the fire.
I also find I read a greater variety of fiction in zines - stuff I wouldn't have downloaded to read. Being a frentic reader if I've got it there I have to read it.
I think a good balance between print and web based fiction is best all round. I'd hate to see either medium neglected.
Leia