I think this should clear up the confusion and I appreciate Stephen's efforts to clarify this for us. In summary, non-subscribers will have full access to their list of DNA matches and "Genetic Ethnicity" results, continue to receive new matches and updates to the admixture analysis, be able to view shared surnames, birth locations and a limited tree view for their matches and (as we have all been hoping) have the ability to contact their matches through Ancestry.com. So, this confirms that there is still a lot of functionality, even without the subscription. In my opinion, outside of traditional genealogy research and strictly in regard to the DNA test, the most important additional benefit that only comes with the subscription is the ability to explore your matches' full Ancestry.com family tree. This can be very important when attempting to confirm a common ancestor with a match that might fall just beyond a genealogical brick wall.
If anyone has additional questions, please ask them in the comments section below and I will try to make sure they get answered.
I will also be following up with a post with more technical details about the test from my recent conversation with Ken Chahine, General Manager of AncestryDNA.