There is no doubt in my mind that RSS is here to stay. RSS is a simple and effective means of communicating your message to your visitors without invading their privacy or spamming them. It has many benefits over email and there have been many reports of death of email due to continual rise of mass spamming and non delivery due to spam filters. By no means is email dead, it is still best personal communication method besides picking up phone. It's just that RSS does some things much better than email.
I have been informing and educating webmasters about RSS since I first discovered potential of this medium. A whole industry has now grown up around RSS and now there are directories that specialise in listing RSS feeds and tools to help you create RSS feeds. Everyone seems to be jumping on bandwagon and everybody seems to have their own opinions about how RSS should be used. Even Google has joined in to offer adsense in RSS feeds.
The problem I see is that improper use of RSS may well send RSS way of email. Currently it seems that if you publish an RSS feed contents of that feed seem to be considered public domain. The reasons for this is, I believe, to do with way content is packaged in RSS, this makes content easy to syndicate. It is not that difficult to create a script or desktop application to strip out content of RSS feeds and publish them on someone else's website. There is even a few applications being sold for just this purpose.