Now that tags have this erm... shiny thing which appears when you move your mouse over them (try it! waffles), one question remains: What in the billion blue blazes does the 'subscribe' button do?
It's not RSS, since a traditional RSS feed link appears beside it, and clicking on it seems to increment the number of subscriber by one, but other than that scouring over the Stack Overflow UI does not appear to reveal anything. Surely this feature would have more use than serving as a popularity contest for the tags?