Syncing subscribed calendars

Yes, it's possible, but it might not be what you're wanting. The problem is that push sync doesn't work (yet?) with subscribed calendars. See the article here: http://support.apple.com/kb/TS1213

The way I've been able to work around this is to disable push, or "over-the-air" sync, and then only sync calendars when syncing over the USB cable. To do this, on your iPhone to go Settings -> Mail, Contacts, Calendars -> then for each of your accounts (or in my case, just for .Mac), set 'Calendars' to Off.
Then in iTunes, with your iPhone connected, sync your iPhone once, then go to the Info tab for your iPhone, and make sure the settings for "Sync iCal Calendars" is enabled for the right calendars.

I've been checking back on that knowledge base article about once a month, and have yet to see any sign that Apple has fixed this problem. A search through the discussions shows that lots of folks are wanting push sync for subscribed calendars to work, so we are not alone!
I hope this helps.

You can do it, all you have to do is select the subscribed calendar in ical, then export the calendar, say to desktop. Then import it back into ical, it will show up in the menu as a regular calendar, not a subscription. Only problem is, if there is a change in the subscribed calendar, you have to re-do this procedure.

Cheers

Thanks a lot for the help on Synchronizing Subscribed Calender.

It really stinks that they don't just sink! Thanks for the suggestions though, I guess they'll have to do.