It’s hard to explain RSS feeds to one who hasn’t used them. It’s kind of a do it first, ask questions later sort of thing. To quote the essentials from Tim Yang’s 15 Things You Can Do With RSS Feeds:
Basically, you can perform any task with RSS that requires search or information retrieval from a server. Automatically and repeatedly.
He follows to detail several tricks including staying informed of stock quotes, aggregating all of your email, and keeping up on major news from a a collective of major TV networks and newspapers. He mentions one that I wish I would have read yesterday – backup all of your posts with Bloglines. Due to a problem with a plugin installation today I lost several posts here. Had I fixed my WordPress headers I could have retrieved them. Lesson learned!