Without an iOS 4.3 release, Apple has went ahead and enabled in-app subscriptions for developers. They can implement this purchase option in their app by using a weekly, bi-monthly, monthly, quarterly, bi-yearly, or yearly basis. This feature will be useful for purchasing magazines, newspapers, services, or even certain types of games.

Unfortunately, Apple will get 30% of the cut. On top of that, Apple has changed its developer guidelines. They are no longer allowing external purchases to be made within an app. Should the developer provide an external link, that same content or subscription must be available via Apple's in-app purchasing process for the same price or less. Being an Apple fanboy, I still don't think there's a way for Apple to spin this is any direction that doesn't point to their own profit and control.