What MrP just said, but I'll add that if you get the taste for road riding, then the Gryphon can be fitted with drop bars/STi's/Ergos, giving you a full on road bike, at little extra cost, wheras if you go for the Subway you're kind of committed to that hybrid setup.
FWIW, I believe that the Gryphon frames are actually made by Merida, for all I know that may be the same with the subway's frame too.
At the end of the day the type of riding you are doing will decide which bike you go for, road riding = Gryphon towpath/road/hardpack = the subway.
Hope this helps, also have a look at your LBS Local Bike Shop, see what they have to offer.
