RSS Syndication is a great way to drive web traffic to your website. Yes feed submission really does work and with the advent of great software rss submission is getting easier and easier to do (and to automate).
Be sure to explore all options, there are now programs available that work on sites with or without rss feeds as well as more traditional sites that have their own rss feeds (such as wordpress blogs).
In this video Tim Buchalka explores the more traditional use of really simple syndication (rss) and then discusses the reasons why you need to sit up and take notice of this technology.
Did you know Google has invested heavily in rss technology with the purchase of feedburner and now offering Google adsense for rss feeds?
Youtube itself makes use of rss feeds in various places. By submitting these feeds to rss aggregator websites you can get great rankings and web traffic.
So take the time to learn about rss and specifically how to use it to your advantage to dominate your opposition.
And most of all enjoy the australia accent in the video!