When we try to come up with sure-fire ways to make a big impression in today’s scattershot media world, the very first thought that enters our minds always seems to be “Start an upscale men’s fashion magazine!”

OK, not really—but Condé Nast has decided to take that step by re-launching “M Magazine”, a venture run by former New York Observer editor Peter Kaplan. Its first issue hits newsstands today followed by a big question: will anyone read it?

It didn’t work the first time—the title appeared in 1983 and folded during the early 90’s due to poor ad revenue. Kaplan sees the new quarterly as less of a fashion rag and more of a Euro-style intellectual journal—for American men who make over $200,000 a year. It’s very traditional: As Kaplan puts it, “M” is a “magazine to state the love of print” that runs on the power of ads by luxury titans like Versace, Dunhill and Louis Vuitton.

We have to say we’re intrigued by some of the pieces in the first issue, especially an article titled “I Married a Billionaire” written by an anonymous Real Housewife who hails from a certain major metropolitan area.

Check out the extensive report by Capital New York’s Joe Pompeo and let us know—are there enough Roger Sterlings in America today to justify a new publication like “M”, or will Peter Kaplan’s venture serve as yet another nail in the coffin of traditional print media?