Basically I think WotC should go the micro transaction rout rather than subscription that require you to be online to use, I wouldn't mind subscription that will allow me to use stuff offline.
Here is my vision for DnD on the iPad, you download the app for free from the app store in it you have store, in the beginning it will have the DMG PHB and MM and you can buy each of them separately or in a bundle.
The PHB is both a book and a character builder and sheet all rolled into one, the reader will have the ability to read through the book like it was a normal interactive book, including short videos of groups playing and showing some of the rules or interactive explanations but at any point during the reading the player can press the small build icon and than each section becomes an option, so you read through the races and by the end of each section you can choose it to be part of your character, same goes with backgrounds, themes, skills, feats, equipment and everything else and once you are done you can access this character on a character sheet.
Once you have the PHB you will be able to purchase other player oriented materials, WotC or 3rd party publisher, and they will get seamlessly integrated to the PHB and the character builder.
Same goes to the DMG and the MM, the DMG will have all the tools for building and running games and the MM will have the monster builder.
Warder