Besides letting your readers view your blog, promptly and regularly yet at their convenience, and letting your readers view the contents of other blogs and web sites while viewing your blog, there's a third use for blog feeds. Let your readers see a digest, or index, of your latest posts.
Look in the sidebar, near the bottom - for the two sections "The Real Blogger Status - Comments", and "The Real Blogger Status - Posts". Those are two Blogger Feed widgets, which display the comments feed, and the posts feed, for this blog, respectively.
Then, look at the very bottom of this blog. There you'll see a digested copy of the latest posts, using a custom feed from FeedDigest.
Compare the Real Blogger Status posts feed in the sidebar, and the equivalent feed at the bottom, and you'll find a few differences. Both FeedBurner and FeedDigest offer a few useful options that help you make a feed of your blog, showing what you like. The Blogger widget has its uses too.