After searching for a simple and easy application to manage/view RSS feeds, I came across a firefox extension called Brief. It's interface is very simple and user friendly, so as the settings. Brief works on firefox's Live Bookmark feature.

 Brief

Brief makes reading RSS feeds as easy and intuitive as it gets. Designed to have exactly the right set of features, it is powerful and simple at the same time. Feeds are presented on a seamless, interactive page which let's you bookmark and tag items with a single click.

Brief Download Link: https://addons.mozilla.org/en-US/firefox/addon/4578

Brief- Screenshots

Main Settings ------ Feeds Settings ----- Display Settings


Feed View --------------- Headlines View ----- Status Menu Alert

[ Note: Saving to the Unsorted Bookmarks category in the Bookmarks Library will hide the bookmarks(RSS feeds list in this case) & keep the Bookmarks Menu clean.]

 A list of popular/useful RSS feeds is attached: Feeds List.zip. Extract the zip file and import the OPML file into firefox using Brief.