According to about page;
FeedRaider allows you to lasso the interesting parts of the web for your viewing pleasure on a single page.
(1) Gather feeds
(2) Create a page = stay updated and save time!
(3) Embed = feeds on your blog/page easily!
At first glance it seems plain feed site. But if you look close enough and use the site, one will begin to see the depth of work put into the site.
I will write another post once I have gone through the complete site. Meanwhile, you can register yourself and enjoy some feed raiding!