At its core it's TwitterFeed, but it tries to be more general, with the concept of "routes" and the beginnings of a powerful configuration system.
I find it interesting because I was working on such an idea a few years back with Betaworks for a product called Switch-A-Bit, that was much more ambitious. However, we couldn't get something that was comprehensible. I came away from it thinking that ultimately what you want here is a programming language, and all attempts to find a balance betw an interactive interface would eventually lead back to programming.
Also interesting to note that bit.ly and TwitterFeed just merged. Good idea. Feeds and URL-shorteners belong together.
All these services need to support rssCloud, imho. I know they've nuzzled up to Google by supporting PubSubHubBub, but please support RSS too. I'm sure you will.
Also, if the developers of dlvr.it are around, I'd be interested in knowing where you're taking it.