I have been using RSS feeds on a daily basis for several years now. In addition to the Google REader account I also use http://yomomedia.com/. I prefer this as my daily reader because I can use it to read feeds either on the computer or on my phone. I usually prefer to read RSS feeds on my phone, because I can do it and keep up with news, or blogs that I like in times that would be wasted waiting for something. The feeds that I read daily are Wired, lifehacker, slashdot, engadget, dilbert, bbc, and cnn.
I have an RSS feed on my website, so that students can subscribe if they want to. This will allow announcements to show up on their RSS readers. I also post general announcements to a Facebook page that several (I just started it the end of last semester) students “like”, so they are updated by Facebook to any of the announcements posted there. I have used it this summer to share the progress of the classroom remodel.