This is the least typical layout option as the masthead is down the side rather than at the top. The lead article is also smaller, and there is less space for the centre image due to the masthead and the cover lines on the sides. This means it would be likely to be glanced over by real-life readers when shopping for/choosing a magazine because it is different from the others. Alternatively, it could make it stand out.
The layout has the most space for the main image, which is very useful regardless of what image I use. The lead article is also quite attention-catching at the bottom of the cover as it is pretty big, and the slug at the bottom also allows for more information to be displayed. This is my chosen layout as it is not too different but also it's not completely basic, and I think it will be good to experiment a bit in a safe way as this is my firts experience making a cover.
This is the most common magazine cover layout with the masthead right in the middle at the top and cover lines on both sides, with a lead article title in the middle of the bottom. It would work well, but I would rather experiment some more to see how working with something different from the majority would be. I also think the cover lines may become a problem with this layout if they overlap the dominant picture too much.