Subjective experience isn't limited to sensory experience, a headache, or any feeling, like happiness, without any sensory reason, would also count. The idea is that you can trace most of those to electrical/biochemical states. Might be why some drugs can make you feel happy and how anesthetics work!
I encounter many intelligent people (not usually LWers, though) who say that despite our recent scientific advances, human consciousness remains a mystery and currently intractable to science. This is wrong. Empirically distinguishable theories of consciousness have been around for at least 15 years, and the data are beginning to favor some theories over others. For a recent example, see this August 2011 article from Lau & Rosenthal in Trends in Cognitive Sciences, one of my favorite journals. (Review articles, yay!)
Abstract: