1. Copy the address of a favorite site from the address window,
2. Then go to Bloglines and "add" it there.
3. Then you check off boxes to indicate which "feed" you choose.
4. Then go through it once for each item of your list.
5. When it's finished, your Bloglines page will get notified when your favorite gets updated.
6. Repeat for additional sites as you find new ones and then you'll have a list that you can either check by going to the Bloglines site or that (if you download the Notifier) you will recieve notices about. I won't say it's never complicated, but I find it mostly easy.
7. A great time-saver with sites that don't update every day and a great reminder with those that do! Other similar services exist that may be as good or better. I just don't know the others!
Since I first wrote this, there have been many additional blog readers of which I became aware, which you can Google if you like! Also, New Blogger now has a Subscribe to Posts icon for you to click on at the bottom of all their blogs. Now your readers can click on the feed button to copy your feed url and utilize it in a Blog Reader of their own--maybe Bloglines, Feedburner, or the Google Reader, or others.
Note: there is no particular advantage I know of in clicking on your own Subscribe To Posts button.)
As noted, I have Bloglines, which generally will find anyone's feed url for me quickly, but I could click on your Subscribe button to get your url and copy it, if need be.