Yes, the subgraph operator takes a vertex predicate and keeps only the edges where both vertices satisfy the predicate, so it will work as long as you can express the sublist in terms of a vertex predicate.
If that's not possible, you can still obtain the same effect, but you'll have to use lower-level operations similar to how subgraph is itself implemented. I can help out if that's the case. Ankur <http://www.ankurdave.com/>