Happy to report that it's as easy as it looks!. You can install each subdomain separately which is great because I only needed one subdomain restored.
It's as easy as clicking the restore button on the right:
There's more stuff blacked out here than in some top secret UFO reports!
Worked! Amazingly it looks like I didn't lose anything at all. The system must have backed up my domain just minutes beforehand.
Didn't take long and the entire domain was backed up into a folder so I can access any of the files just in case. Took less than 30 minutes and I received an email when it was complete.
Gotta give some credit to Dreamhost. My sites have always been up. Had fast bandwidth both up and down to the site. The one accounting error, which happened not to affect me, is the only negative I can think of.
My account is now "unlimited" storage and bandwidth for ~$10/month. You can use 50GB for any kind of storage and the rest has to be a part of your site with the note that you can't use your site for illegal activities like posting movies, etc. I have 11 sub domains and 2 primary domains all hosted on that one account.
Dreamhost thanks for the recommendation. Been a happy customer for over a year now.