After a few late nights, some coffee and a few review cycles, a new article has just been published on the SQLCAT site which provides an overview of the subscriber initialisation techniques for transactional replication and, more specifically using an array-based snapshot http://sqlcat.com/technicalnotes/archive/2009/05/04/initializing-a-transactional-replication-subscriber-from-an-array-based-snapshot.aspx