These are just my notes. Expect bad grammar and unfinished sentences. I'm sure the Channel 9 video explains this better... I haven't seen it yet.
Subscribe is big. We went browse -> search -> subscribe! There's a balance.
Longhorn will enable RSS for developers and users at a deep level.
First public showing of IE7. Everytime the browser encounters a feed a button appears - renders RSS, provides subscription model.
Subscriptions placed in common feed list for the user. An application can use this. Alluded that there'll be a common api to access feed content, be it rss, atom, etc...
An enclosure is an item in a feed of content.
Demo of subscribing to a feed of ical items. An application used the platform to get that data and populate outlook. The was a bunch of people getting hot under the collar about "why would you do that with calendar items, this way is better, etc..." I think they missed the point. The point (I think) was that an application was using the platform to ask if there were feeds containing particular item types, and then doing something with it. The platform is dealing with (and being a central repository for) subscriptions, and performing the download, space management, etc....
Lists are different to feeds. They are extensions to RSS that identify a feed as a list and describe the content so that consumers of the feed can do rich things with it. The specification for the RSS extensions will be available under a Creative Commons license. Details on the IE Blog.
Nice cool free jackets too.