I want to know the names of the people running the project and what experience they have in publishing. I also want a clear breakdown of the rights they ask for and the payscale. In less direct things, I want a nice layout to the site and lack of typos.

If all those things aren't provided (or publishing experience is "well, it looks like fun and I wrote a story once") I don't submit. I give those markets a year, to see where they're going.

In a case where the site and editor hits all the right buttons, then I want to know what they're looking for, what authors they enjoy reading and so on.