The word in the #mercurial IRC channel is that subrepos will continue to work as they do, and support will grow. For example currently the 'hg status' command isn't subrepo aware -- it works, it just doesn't recurse, but that in the future it will be. However, the current behaviors, fileformats (.hgsub and .hgsubstate) will only be changed in backward compatible ways.
So, go ahead and count on it now, and look forward to it getting better.
P.S. As of mercurial 1.4.2 the subrepos can now be subversion repos, so you can use a mercurial parent and a svn kid.
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