I've visited Venik's Aviation Page for the past four years as an aviation enthusiast. It has always been a good source of information on Russian military aircraft, though with an obvious pro-Russia slant.
Venik himself lives in America (hence his impeccable english), though he is a native Russian. On the rec.aviation.military newsgroup (whose frequent viewers are just as intelligent as those who visit k5), most see Venik's site in a similar way as I do- informative, but biased. He is/was often accused being anti-US, and a couple years ago Venik wrote an article on his site proclaiming his non-anti-Americanism (his best defense was the fact that he lives in America).
He has been caught red-handed by the rec.aviation.military folk posting incorrect data though. During the NATO strikes in Serbia, he posted gun camera footage from Serbian aircraft, reportedly shooting down NATO aircraft. The r.a.m people pointed out that the HUD gunsight symbology displayed was clearly from western aircraft, and that the footage was from Israeli Air Force shooting target drones. In every conflict involving the U.S., except the War on Terror, that I've seen him report on, his stance on the issue has been strongly anti-U.S. He did some interesting reporting on Russia's participation in the war on terror (the Russians were ready for a re-match after losing to the Afghans in the 80s), something I wasn't aware of.
Most aviation enthusiasts I've talked use Venik's info not as an authoritative source, but just as a counter-weight against pro-U.S. media.
Let me add that it is titled "Venik's Aviation Page", not "Venik's Military News". It has always been a page about military aviation, with a focus on Russian aircraft, and is not a general military news or equipment site. The military reporting is somewhat of an aside (though it has become more major recently).
Oh and Venik isn't his real name, it's just his online handle.