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Many old mags have already been given the searchable text treatment and so can be found via Google (usually you end up at archive.org), but there are lots that have slipped through the cracks, making research really difficult. I'd say it's definitely worthwhile if you could search for a phrase and be sure you've covered all the bases. You don't know what you don't know, if you know what I mean.
Also, some of the PDF text conversions that are already out there are absolutely useless. Try copying and pasting a paragraph of text and reading the gibberish that results! In these cases, I've captured pages as an image and used services like onlineocr.net to quickly extract the text. Only useful on a very small scale obviously.
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