I really like the way Sharepoint sites allow you to set email alerts and use RSS feeds to track updates to keep on top of edits and additions to document library, blogs and all other those cool webparts. The only issue with email and RSS is that you have to add an RSS feed for each of those items that you want users of your site to be able to track. Bluedog Limited’s SyndicationGenerator is a web part RSS feed generator that allows you to aggregate multiple feeds into a single one that can be subscribed to by your readers, check it out…
http://www.bluedoglimited.com/Downloads/pages/SyndicationGenerator.aspx
Now about the RSS as a backbone idea… when you have distributed, matrixed or simple a new team that is just forming this kind of visibility into all aspects of your sharepoint site is key to keep everybody informed asynchronously and can be a great teambuilder when combined with twitter feeds or other micro-blog service (which can be added to the Syndication webpart too!).