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Some of the comments on that Nintendo Enthusiast article, oh dear. how disappointed people are going to be. "Oh I'd love a $50 annual subscription for all VC titles with discounts on purchases and a free game every month!"
Yeah right, like Nintendo would give you that.

Best case scenario for this rumored subscription model is $7.99 a month/$60 a year full access to all virtual console on consoles under your NNID and a 10% discount on any purchases you make during the subscription.

I still don't think it's subscription, though. With recent comments I could see them tying together the WiiU and 3DS eshop purchases for games available on both systems. (or giving major discounts like they have for Virtual Console upgrades from Wii) Maybe. And leaving it at that.