NEVAR!
The 'zine format made sense in the 90's and early 2000's, but today it seems like blog posts and RSS feeds are the only way to publish things. Not to mention that I'm already doing The Phone Show every week, a PLA Radio a couple times a year and blog posts on phonelosers.org, notla.com, signhacker.com and oldpeoplearefunny.com.
As far as bringing back the old 'zine, something I've been meaning to do ever since I got a Kindle is to reformat all the old PLA issues into Kindle format. I think the old 'zine would look awesome on ereaders.