If your blog is run on any of the popular Content Management Systems, you'll already have an RSS feed. If you don't, create one. If you do, burn it at Feedburner.com so you can get statistics on your subscribers.
For link building, it's simple. There are sites out there that will scrape your content (stealing it without permission). When they do, make sure you get a link back by 1) including links to other pages on your site in your posts and 2) installing the RSS footer plugin for WordPress (adds a link to your blog after every post).
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