Tribe has a long interview with Michael Langnas, the editor-in-chief of Murdaland that I recommend. I've been reading my copy of Murdaland off and on since returning from Bouchercon, and so far I've read stories by Anthony Neil Smith, Patricia Abbott, Ken Bruen, Daniel Woodrell, and David Goodis. All top-notch work. If you don't have a copy, you need one.
I don't see Murdaland as a competitor to EQMM or AHMM at all. It's a different kind of publication, a literary magazine that looks a lot like a trade paperback, and it's aiming for a different audience. I see it as more of a complement to the other publications, and I'm really happy that it's around. The more short story markets, the better, I say, and if Murdaland provides a market and a platform for stories that are edgier and more explicit than the ones found in the newsstand magazines, that's great. The first issue lives up that, so check it out.