Jerry, I for one don't think the problem is the editorial team, I've been told by people who have written for the magazine in the past that their articles aren't wanted.
I don't think anyone doubts that the majority have gone digital but there is still a large niche analog market, so just as a magazine decicated to LF photography can survive (View Camera Magazine) so could a magazine with a greater content of analog photography.
However I think that B&W Magazine is in an uneasy position, most people with decent Digital P&S cameras and DSLRs shoot colour and there are plenty of 100% Digital magazines that have B&W issues and cover similar topics. For a magazine to have a meaningful analog content it needs to cover colour analog processes as well.
B&W magazine has lost the advertising from major analog supplierss, Silverprint and others aren't there any longer, nor is Ilford.
The number of people on all the Forums who liked B&W magazine and have posted about stopping their subscriptions is rather large and that alone should be something the management takes into account, they are just the tip of an iceberg.
A good magazine biased more towards analog and hybrid photography would have a far larger potential market than View Camera magazine and that's an area that no-one else is pitching at. If it has to have a modicum of digital content in an attemt to entice digital photographers to try using film and a darkroom that might be OK.
There's various large forums aimed at film and darkroom users and substantially more other like minded photographers out there so maybe the owners of B&W magazine should realise thism then look at how much larger their potential market could be with some changes in direction.