As best as my addled morning mind can parse, OPML Reading Lists is simply the idea of subscribing to someone else's (RSS) subscriptions (their "Reading List"). It's just subscribing to the OPML list itself, rather than to individual feeds. As their set of subscriptions changes, your view is also updated. Anyway, that's the nugget of knowledge I excavated out of the jargony paragraph
Reading lists are OPML documents that point to RSS feeds, like most of the OPML documents you find, but instead of subscribing to each feed in the document, the reader or aggregator subscribes to the OPML document itself. When the author of the OPML document adds a feed, the aggregator automatically checks that feed in its next scan, and (key point) when a feed is removed, the aggregator no longer checks that feed. THe editor of the OPML file can update all the subscribers by updating the OPML file.
from Next steps in RSS, Reading Lists - October 13, 2005
There is a howto of sorts at http://www.reallysimplesyndication.com/howtoReadingLists
You're supposed to keep your reading list small, e.g. 15 items or less, apparently mostly for technical reasons. But I don't see why we can't fix that with a layer of technology. I've already got all my 100+ feeds in tidy categories containing most-15-or-less items within Bloglines, why can't it just suck up that, then let the subscriber select which categories they want within the big file?
Now Technorati Favorites would seem ideally created for this, but inexplicably they have not provided OPML export. You can leave feedback in Sifry's posting New Technorati Features: Favorites. And Reading Lists/OPML for Blog Finder (February 21, 2006).
UPDATE 2006-05-01: Technorati now provides OPML, see Technorati Favorites: RSS and OPML
ENDUPDATE
Thanks to Steven Cohen for pointing out reading lists and for putting me on his.
My Bloglines list is at http://www.bloglines.com/public/rakerman
And my TechnoFaves (currently quite incomplete) are at http://www.technorati.com/faves/scilib
You make a great point, thanks for the feedback! We're integrating great feedback from folks like you over the next few weeks, keep an eye out...
Dave
Posted by: David Sifry | February 27, 2006 at 11:47 AM