Among academics, there is still a premium on publications in archival journals. However, the combined review and publication delays can be two years or more.
Sometimes a refereed journal will publish a special issue on a given topic. The papers are then invited. A common case is where the invitations are based on the top papers from a particular conference. In this case, the papers published are often subjected to a second round of refereeing and revision.
There are many periodicals in the field of Computer Science. Those run by the major professional organizations, including the ACM, the IEEE and SIAM, are well known for having high standards. These include the IEEE proceedings, transactions, and refereed ``magazines'', the ACM journals and transactions, and the SIAM journals. There are also many well-regarded periodicals published by commercial houses such as Elsevier, Kluwer, North-Holland, and Springer. The complete lists of CS journals from some of these publishers are provided in Appendix C.
CS researchers do not publish only in CS journals. People doing work that has a wide range of applications are wont to publish also in journals that are associated with the application area.