  We review the history of the discovery of field subgiant stars and their
importance in the age dating of the Galactic disk. We use the cataloged data
from the Hipparcos satellite in this latter capacity. Based on Hipparcos
parallaxes accurate to 10% or better, the absolute magnitude of the lower
envelope of the nearly horizontal subgiant sequence for field stars in the H-R
diagram for B-V colors between 0.85 and 1.05 is measured to be M_V = 4.03 +/-
0.06. The age of the field stars in the solar neighborhood is found to be 7.9
+/- 0.7 Gyr by fitting the theoretical isochrones for [Fe/H] = +0.37 to the
lower envelope of the Hipparcos subgiants. The same grid of isochrones yields
ages, in turn, of 4.0 +/- 0.2 Gyr, 6.2 +/- 0.5 Gyr, and 7.5 to 10 Gyr for the
old Galactic clusters M67, NGC188, and NGC6791. The ages of both the Galactic
disk in the solar neighborhood and of NGC6791 are, nevertheless, likely between
3 and 5 Gyr younger than the oldest halo globular clusters, which have ages of
13.5 Gyr. The most significant results are (1) the supermetallicity of the
oldest local disk stars, and (2) the large age difference between the most
metal-poor component of the halo and the thick and thin disk in the solar
neighborhood. These facts are undoubtedly related and pose again the problem of
the proper scenario for the timing of events in the formation of the halo and
the Galactic disk in the solar neighborhood. [Abstract Abridged]
