And if you understood John's post then you'll know that while you can create an assembly by selecting components with which to populate it, the downside is that in doing so you will effectively lose your mating conditions.
If your mating conditions are really important then consider copying the original assembly, (using "Save As" would be okay), and then removing all except the parts that you wish to place into the sub assembly. You would then re-open your original file, remove the same components and add the sub assembly in their place.
If your mating conditions reference some parts destined to live in the top assembly and others being shifted to lower levels then you're basically out of luck and you'll have to do something unfortunate no matter what method you use to re-structure the assemblies. In that case pick the option that creates the least work.
Now if you have a static assembly with mating conditions that can be fully satisfied within one assembly or the other then you'll be Okay! But if you have some kind of mechanism that works while all the components live in a single assembly then you will find that mating conditions spread across two or more assemblies will not express freedom of movement in the sub assemblies and as such your mated assembly may not be all that it could be.
If this has changed in NX-5, which I haven't tested for this yet, then I apologize in advance and applaud the improvement. Up until NX-4 it appears to have always been thus so I would advise caution.
Best Regards
Hudson