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check the thread - quite a lot of subdomains there..
I just witnessed the disapearance of some low end abuser. He was using "cityname.domain.com" for hundreds of cities, country or states. Each sub domain was a single spammy doorway with a redirect to mother ship. The whole thing lasted less than 15 days. Mother ship is greyed out, and I guess not about to be seen again... ;)
Each of these sites are in the format of
www.(sponsorname).(companyname).co.uk (is this a subdomain?)
And each of these 3 sites have exactly same content.
(oh and the company in question has another 2 listings in the top ten - homepage and different content section).
Id say you would be fine Mike.