George Tsiokos wrote me about a service he put together and is offering for free (under the MIT Licence). You enter an RSS feed URL on his page and he'll generate a DWP file you can upload directly as a Web Part onto your SharePoint Web Part Page. It uses the DataView Web Part and XSL to perform the translation so requires no server software installation (except the upload which anyone with the add web part right can do). It produces a nice, clean, RSS feed from news items with a link to each entry. The title of the Web Part links to the parent site where the feed came from. His DWP file supports RSS 0.90, 0.91, 0.92, 1.0, and 2.0 versions as well as Atom and Microsoft's Channel Definition Format. You can check it out here on his site.