I'm thinking someone should make an HTML-ized version of the RSS DTD: Uses only DIVs and/or other very basic HTML constructs, with relevant CSS classes. Site authors can then generate .js files that document.write those HTML snippets. As those .js files are referenced by other web sites, CSS can be applied to customize look and feel.
*Looks at Gregg*. web browsing client <--> syndicated feed : direct access. no need for middle-man if syndicated site author generates updated JS file.
<link rel="alternate" type="application/rsshtml+js" title="RSS" href="http://chrisholland.blogspot.com/rsshtml.js" />