Its not subscription based, Satya Nadella said it himself. He also said that if you download it in that year, you'll be able to keep forever! So heck yeah I'm going to download it! Good decision from Microsoft, though I don't think the investors like it, as Microsoft is down over 1%. Anyway if you want to read the article where I got this from (it relieved me to) you can see it here: http://www.polygon.com/2015/1/21/7866935/windows-10-upgrade-free-7-8-1-phone-one-year
Please read through the update, as if you miss something you may get the wrong feeling. Anyway having a good feeling about Windows 10, are you?