Well, just an update for anyone in the US who was interested but thrown off that they couldn't watch the entire series for free. Subspecies 3 has been added to hulu, at first it was hulu+ Subscription only but made it free today. So, at least as of this writing, you can watch all 5 movies for free if you don't mind a lot of ad breaks.
http://www.hulu.com/watch/946564EDIT:
So, having watched Subspecies 3, then the "Vampire Journals" spinoff, and then finally "Subspecies 4" I have to say I think the series peaked with 2-3. I don't want to spoil too much but 4 obviously had budget problems and seems constrained in many obvious ways. Still, it's far from the worst thing I've ever seen, just a bit of a let-down to end the series on. The fact that it's as watchable and enjoyable as it is though is a testament to the talent of the filmmakers, considering this was released the same year Full Moon perpetrated the execrable "Curse of the Puppet Master" upon the world. Released a year before, "Vampire Journals" has much better mood and production values but not enough actually happens in the film. I probably would've really dug it if I'd been a Vampire the Masquerade player back in 97 though. That said VJ seems to fit into the timeline much better as a
sequel to part 4, not the other way around.