But does subspace make any sense...
...not much actually.

...when they are coming from the sides?
They aren't coming in "from the sides" (of the subspace skybox model, if that's what you meant), it just looks damn much like it. Basically they are jumping into middle of the corridor from a subspace vortext that opens a "window" into the normal space they are supposed to be coming from.
I always thought it was point A to point B (one "entrance" to the subspace tunnel and one "exit" - no in-between). What's your guys thought on that?
That's what this is supposed to be... What I'm thinking that for intersystem jumps, the ships jump into a common jump corridor, to which they have access from subspace nodes, and the blue-white swirly light coming from the vortex is a "window" into the jump node. Consequently, it would be logical to think that from the corridor, you should see normal space through the jump vortex.
Small distance, intra-system jump drives probably generate a ship-specific, limited jump corridor that behaves pretty much like the jump node-connecting big corridor, but disappears after use and can only be used for limited distances (d'oh). Same lighting dynamics apply though - you see into a corridor from normal space, and that means that in normal space, the effect should be swirly light vortex.