Yes,it would work,the only problem i can foresee is ensuring that everybody knows,i.e there would be no guideline anywhere.I suppose it would help in that when 12 CD's have been uploaded (a years worth) the Issue No. of the magazine could be used to list them chronologically.One for the MODS methinks ;)
I've been using the issue number when adding CDs given away with The Word magazine and using the magazine cover date as the CD issue date. I think it's useful as it makes it easier to match them up.
I've just noticed that Discogs uses the issue number of the magazine as a Cat.No. on these magazine freebies,so for example,this one would read as "#1420",is it worth doing the same so that it ties up with a particular magazine?.
A tricky one to scan this one,a lot of black-on-black,worth it though as there's some pretty good versions of the originals here (no easy task).