There is an issue with Subscriptions and Modr8, which brings into question how moderated but published nodes are to be handled by Subscriptions. Maybe you could comment and/or help with modifying Modr8 to be more compatible? Maybe Modr8 could implement another function to the 'approve/deny/note' UI which could allow a user to 'Approve for Subscriptions' or something? Here is the thread:

http://drupal.org/node/562788