Controllable tight subplot

Subplot wrapper, allowing better figure utilization, by tighter axes.

Allows fully utilizing the figure surface by defining margins, by wrapping the existing subplot function. Unfortunately the original subplots function spends lavishly the figure area , without allowing the user to control it in a convenient manner. In addition to subplot functionality (fully supported) the user can define margins, which result in larger axis presented in the figure. Default margins are 1% of figure area.
Thanks goes to a colleague- Adi N., who both urged me to write this function down, and assisted in writing it.
Hope you will find this one useful.
Update:
Some subplot functionality s now supported. However, I must mention this looks quiet buggy to me. Check this out:
figure;
subplot(1,2,1);
plot(rand(1,20));
subplot(1,2,1,'Position',[0.1,0.1,0.3,0.3]); % 'Position' is ignored!!!