Would that work on a A1200T?
I'm not sure if the Subway has an internal USB connector. If so then yes. As for the CF card reader, you can buy IDE models that will fit into available bays, so I'd try one of them.
The problem I see with CF card readers is that some work and some don't. In my experience I've had to set the card reader to "MASTER" (so make sure you get one with a jumper). I've also had issues prepping and formatting the CF card with an AmigaOS. Some cards seem to work fine while others are really picky. One example was a card that wouldn't prep and format on the A4000 (it would go through the motions of prepping, but wouldn't format correctly later), but if I prepped it on my A2000 then it would then work fine on the A4000!
At least if you buy from Amigakit you know you'll have no issues, otherwise be prepared for some frustration.