You can select which audio, yes, but not true as far as "sub", which is tied to whichever client you're playing.

Referring to them as "subs" is also somewhat inaccurate, since they are only captions of what is being said word for word to the pertaining dub (dubtitles, or closed captions essentially). For ex, as we've seen, the English text accompanying the English audio is word for word. The Japanese dub, French dub, and German dub, will not be accurately be "translated" if you leave your game in English. Hope that makes sense. >.>