Sorry, I went away for a while. If you join now, you won't get this issue in the mail, although you are able to see it online once you join.
Even without the Guzzi content it is a nice piece of motorcycle porn with lots of well loved bikes. Even if you don't join you can get an online sampler just to check it out.
It is generally a historical piece regarding the evolution of the brand, going into a little more depth on a few models. It also discusses some of the racing accomplishments. In my opinion it treats Moto Guzzi as a curiosity, yet respectful. Fr' instance the same column in the previous issue was about Nimbus.