Personal opinion - yes, too boring for most sites.
I really think it depends on what you're trying to achieve with the site. If it's a repository for info, then by all means keep it simple. But you said you're doing a "magazine style site" - how many magazines do you pick up off the rack and flip through that have NO images, NO color, NO anything? None.
And I also have an aversion to serif-style fonts. I much prefer sans-serif for reading online. Much cleaner and easier on the eyes IMHO.
I can totally see using VPT to start with, to change around and make more "magazine like", but no, I sure wouldn't leave it like that for what it seems like you're wanting to do. :)
Incidentally, the Bad Dog Theatre site is very well done, again, IMHO!