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Yes, gentle readers, that is the sub-floor coming OUT.  Being exposed to two wet summers made it swell and buck and - although it looks just fine to me - The Husband wants to prevent floor issues once we lay down the top flooring.  So, it's coming out.  As we speak. 

On the upside, you can now peek at the radiant floor heat tubing that's exposed. 

That's the only upside.