Yes.  Sort of.  You can subscribe to threads individually.  When you are IN a thread, there's is an image you will see at the top and bottom of the posts for that thread.  It will say either "subscribe" or "unsubscribe."  Clicking this button toggles your selection.  If the button says "subscribe," you are currently unsubscribed, and if it says "unsubscribe" you are currently subscribed.  Subscribing simply means that you will receive all posts made to this thread via email.

There is currently no way to subscribe to the entire board, however, RSS feeds are an excellent option.