Wirelessly posted (Mozilla/5.0 (iPhone; U; CPU iPhone OS 4_2_1 like Mac OS X; en-us) AppleWebKit/533.17.9 (KHTML, like Gecko) Version/5.0.2 Mobile/8C148 Safari/6533.18.5)
Everyone keeps saying 4.3 is required for subscription content but I don't see that AT ALL. In fact if you go to account settings in The Daily you get the ability to enter your iTunes info, a iOS popup bubble dialog appears allowing you to select weekly or yearly. I selected weekly to see what would happen and sure enough I got an iTunes store EMAIL receipt showing I had been subscribed and how to cancel if I don't want recurring charges. This was all with good old 4.2 on my iPad.
Could be that you can sign up for it under 4.2 but can't actually retrieve like you will until 4.3