is it possible to use MU subdomains AS buddypress profiles?

In a nutshell I'm working on creating a social network for a client and they want subdomain profile pages like one might see on deviantart where the profile is in fact profile.socialnetwork.com, we figured use Wordpress MU with buddypress functionality. Is this possible? Or should I go strictly with WPMU and just add functions with plugins (i.e., forums, activity walls etc)?