Waaaay back in the day, I had a subscription to CA&E for MANY years straight. I dropped out of the scene for quite a while and recently picked up another sub, thinking it would be the same level of quality information, but was disappointed. I've barely opened the last 2 issues. There are still some really good articles, some times, and periodically excellent technical information, and very experienced editors/reviewers, but I have to say that it's not as much a value as it used to be. The annual Directory issue in June (I think it used to be April, many years ago) can be quite an excellent resource though!
I dunno... the installs and pictures are gorgeous and generally not like what you see chatting in a forum or visiting a shop. So, it may certainly still hold a significant value to you if you're into car audio.
Yes, there are a LOT of ads! Too many for its content, in my opinion.