Depends.
streambundle gives you a BaconJs stream, that has a bunch of handy functionality already built in. For example combining several SK values to output data in another format, like NMEA0183: you have an easy method to say that whenever a, b or c change combine them in a certain way and do output only once per second. Then again the reactive functional paradigm in BaconJs can be hard to understand if you are very imperative programming oriented.
Subscriptions have no "bonus functionality". Whatever you do with the data is totally your own code.
One clear difference is that subscriptions are available on the client side also. So if you might want to run the same logic in browser UI for example you'd want to use subscriptions.