Done. In addition to an exceptional newsfeed search engine, rating and ranking tools, and requisite OPML import, RSS Owl can also export feeds or mix-n-match customized abridgements to PDF, RTF or HTML. First of kind or first of category? Not exactly, but a good reason NOT to waste time developing your own new Java RSS reader. Too late, somebody is already doing that.
Oh! I know! What if you could search the Web visually, so you can explore a dynamic picture of related information, instead of searching through long lists of text? That would be new and original!
If only there were a way for humans to provide context for all this wildly proliferating content. Yep, your too late for this idea too. Since 2001, more addictive every day.