Blog Topic #3: What is RSS?

On Blogger, you have the option of publishing a site feed which will create an XML version of your blog for RSS syndication. What is RSS? How is it useful and/or being used? How can you use the RSS feed to track updates to your fellow student's blogs? What's an aggregator?
Useful resources:

• http://www.bloglines.com
• http://en.wikipedia.org/wiki/Rss
• What other useful resources can you find?

Possible Points: 20 Ponts