Ahh, the timestamp is a PTS, so divide by 90000 to get the number of seconds. But strangely (well almost) it is not the PTS of the Sub Stream in the MPEG, but it is offset, I think, by the video stream PTS.
So (from memory) you have 'SP' (which is the start of sup sub) then the PTS (which I think is a QWORD) then pretty much the size of the sub minus it's header and that's about it. (I think there was one more bit, but I can't remember (im at work now))
Hope that helps
-Nic
ps
jhmac: I'll write a mini-guide for the next release, but for now read through mine and DVDRFreak's posts in this thread, and that should give you an idea of how things work. But it sounds like your doing it right anyway