What is RSS ?
RSS (Rich Site Summary) is a format for delivering regularly changing web content. Many news-related sites and other online publishers syndicate their content as an RSS. In other words it is a method of distributing links to content in your web site that you'd like others to use.
It solves a problem for the people who regularly use the web. It allows the internet users to easily stay informed by retrieving the latest content from the sites. One can save lot of time by not needing to visit each site individually. Now a days the number of websites offering RSS feeds are growing rapidly and includes big names like Yahoo,Google,etc.
For different platforms a variety of RSS Readers are available. Some popular feed readers include FeedReader (Windows), and NewsGator (Windows - integrates with Outlook). There are also a number of web-based feed readers available. My Yahoo, Bloglines, and Google Reader are popular web-based feed readers.
Once you have your Feed Reader, it is a matter of finding sites that syndicate content and adding their RSS feed to the list of feeds your Feed Reader checks. Many sites display a small icon 
How does RSS syndication work?
When somebody publish a new web page about a particular topic. He or she wants others to be interested in that topic to know about it. By listing the page as an "item" in your RSS file, one can have the page appear in front of those who read information using RSS readers or "news aggregators".RSS also allows people to easily add links to your content within their own web pages.
FeedBurner provides custom RSS feeds and management tools to bloggers, podcasters, and other web-based content publishers. Services provided to publishers include traffic analysis and an optional advertising system. Published feeds may be modified in several ways, including automatic links to Digg and del.icio.us, and "splicing" information from multiple feeds. On June 3, 2007 FeedBurner was acquired by Google Inc., for a price of $100 million.
Feedburner republishes your RSS blog's RSS feed (or any RSS feed for that matter) to make it much friendlier, more powerful and more useful.
Why to use Feedburner ?
After adding the feedburner to your blog first thing publisher should do is find out how many people are subscribed to your RSS feed. These will be the people who will be coming back to your blog, more than any other group of visitors to your blog or website. It's good to know how many of them there are and how that number has changed over time.
Feedburner automatically ping Technorati and everybody else who come out to know when you've posted something new on your blog so that it will show up in search engines.
If a publisher change blogs, he or she can just point his or her new blog's feed at his/her Feedburner account and not loose any subscribers.
For more details on feedburner visit here !!
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