idea for a new software/script

I helped start a group blog – spcetrical2002. Predictably, it has lost steam after the initial posts. That came as no surprise. None of the members were prolific bloggers. So here’s what I thought up. It may be an entirely new software or it may already exist somewhere. It simply aggregates posts from multiple blogs into one blog.

All the blogs from Blogger have Atom feeds. This blog’s feed is here. You can also get it by clicking the Atom XML Feed button. In IE, the output is plain text and images. In FF, you also have clickable links. The most important point is that the XML output is constantly rendered across the two browsers. (Opera results, Thite?) Now lets say we successfully write a script that collects N such feeds. Let it be PHP or Perl, because it will be a script run on some server. This script will first store the N feeds in whatever format is convenient. Then it will parse the feeds and harvest the ten (or fifty, as the need is) latest posts. This is possible because the time-stamps are in a fixed format and we should be able to parse them easily. The posts will then be rendered on the web-page. This checking for new posts can be done periodically depending on server load.

So, is it a new script or something available on the net already? Any PHP/Perl programmer out there reading this?