Print vs Digital

I am at a cross roads, I need to decide whether the new and revamped Sketchbook Magazine should go print or go digital.  I will play the PRO and CON game.

Print:

Pro:
1. Tangible
2. Higher source of revenue for ads
3. Vision was always to be in print
4. Print magazine will do illustrations justice

Con:
1. Expensive to print, distribute, and pay
2. Time consuming to get a print issue done
3. First two print runs won't make any money
4. Require a publishing license
5. More staff required which means higher source of revenue

Digital: ( But printing a Sketchbook Book once a year)

Pro:
1.  Quicker, easier to set up
2.  Gain more followers, stir more attention
3. Wider reach
4. Test out articles, tone, mood, stories interest
5. More time to allocate sponsorship and advertisers
6. Time to create a good first issue
7. Cheaper to launch
8.  Can build a stronger database
9. Less staff

Con:
1. Have done the digital thing for a few years
2. Online ads are not as reliable or high
3.  More likely to get a source of revenue from directory, posting jobs

I have met a few publishers this week and so far the feedback I got was more digital and less print. Your thoughts?