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I agree with Cory Doctorow for once. Feed Rinse is great. Feed filtering should be built into your aggregator.
My €0.02, which is why I’m posting rather than just adding the link to del.icio.us, is from my standpoint as an evangelist for a corporate aggregator. If you’re consuming internal feeds (i.e. feeds from your intranet) then you can’t use a separate, external third-party filter.
If you’re consuming secured feeds (feeds that start with with “https://”) then you can’t add an external filter into the data flow without moving all your authentication credentials into the filter service.
It has to be built into the aggregator.