I prefer the old-fashioned cut-and-paste because it’s more fun for me. It’s also easier–you can just fold your paper and paste things on in the order they’re going to be in, whereas when you use a program, you have to make sure you put the content in that non-intuitive order so it will print out right. I’ve used Scribus and GIMP and I find them valuable, but it partly turns zining into a techy thing, and that can be a bummer when things aren’t working. Plus for some of my zines, I have a bunch of random stuff that I would rather just paste on than spend time scanning and placing within a program. I tend to glue things on crooked, but I recently picked up a light panel, so I’ll see if that helps for my next one.
Oh, and I’ve also used plain old Microsoft Word for layout for some of my shorter zines that have mostly text. It’s easy–you just insert text boxes and go wild.