The acronym RSS stands for many versions of the same thing.
* Really Simple Syndication
* Rich Site Summary (RSS 0.91)
* RDF Site Summary (RSS 0.9 and 1.0)
* Real-time Simple Syndication (RSS 2.0)
The RSS headlines and stories are immediate, and in real time. The moment it is published at the source server, it is on your screen. Web-based feed readers and news aggregators require no software installation and make the user's "feeds" available on any computer with Web access. Some aggregators syndicate (combine) web feeds into new feeds, e.g., taking all football related items from several sports feeds and providing a new football feed.
How RSS Works :
1. You choose an RSS reader tool for yourself. Most RSS readers are free to use, and easy to learn. Google Reader, Bloglines, Netvibes, Yahoo Reader are some of popular ones. Also check out the 'Subscribe' option on this site
2. You load the RSS feeds into your reader tool. This is achieved through multiple different ways. You can visit the web feed site directly, you can copy-paste the special code from an email, or you can load copies from your friend's RSS reader screen.
3. Then you start reading your web feed news! You simply log in to your RSS reader page, or start your RSS software, and you can scan all your web feeds instantly. You can arrange the RSS feeds into folders, just like email, and you can even set alerts and sounds for when a particular web feed is updated.
By the way my all time favourite News aggregator is Netvibes and Google reader, Post in your favourites in the comments area for it to be shared..