RSS understanding

So, we're in the digital age and I'm now a DFT (digitally-facilitated teacher.) Pretty cool letters to have behind my name. There are seemingly endless possibilites to use e-tools and the web, and I'm fairly sure I'll only be able to come to grips with and use only a handful of them. But I'm learning...
Okay, my latest knowledge is that RSS is a syndicating tool which bundles the current information I want to get (from newsletters, blogs etc) and presents it to me automatically. I don't have to spend hours (or perceived days/weeks) searching arduously through my favourite linked sites to be up-to-date. (Is it too early to throw away my "surfing wet-suit"?) Theoretically sounds brilliant...just got to put it into practice...
From a blogging point of view, RSS should not only help me to keep track of my students' posts, but should also enable my students to keep up-to-date with each others and my posts. Of course, I'll have to master all this first before I expect my students to use it.