Considering how RSS is spreading, and will continue to grow on the web, I would suspect it would become an integrated part of the BLOG software at some point. Right now it isn't, and we probably won't spend the time to code it (as you note) - but if it comes with the s/w right out of the box, I see no reason NOT to have it turned on (depending on server load...but we'd need to try it to know, ya know?).
As for RSS feeds on the site at all....I'd have to dig deeper, but my instinct thinks it's a hack someone wrote for an earlier version of our software. I'm not even sure it's still working