Here is a nice comparison between Firefox 2 and Internet Explorer’s RSS functions.
In general, we felt that RSS reader was a very personal choice to be made by the user, and that we did not want to compete with existing RSS readers that exist, which are very competent in a variety of ways. Rather, we wanted to allow users to easily subscribe to feeds using their favorite reader.
The UI presented is not intended to be one for consuming the content, but rather previewing the content before subscription (since many feeds have non-descriptive titles). I think this is where the confusion arises, because the presentation is similar to Safari’s and IEs and so people may expect reading functionality.
Personally I kind of like what Microsoft is doing more right now – but I have a feeling that by the time Firefox 3 rolls around, they should be beating them hand over fist.