This is a great topic. I could use a tutorial on RSS feeds in general. I have a feed link on my site. Last month I had over 1,500 feed hits (as far as I can tell). I posted 4 chapters that month, so there are probably 300 readers or so, I'm estimating, who read my story using RSS. I have another 300-400 readers who actually come to the site every week. So it looks like I'm split about 50/50 between the two.
I really don't know anything about RSS and how it works. I clicked the RSS on one site and it put a button at the top of my browser, and when I click on it, a dropdown menu opens and I can click the entry I want to read and it actually takes me to their site. When I click other sites they simply add a spot in my bookmarks menu and when I scroll over it there it shows me the sites new chapters, and again, when I click on them it takes me to the site. I don't have a reader or feedburner (or I don't know how to use it).
Like Chris, I would to make the most of my visitors and try to build up some add revenue. It's my understanding that RSS feeds don't display the ads. It's too late for me to 'cut people off' with partial chapters, but I would like to here about what others are doing, how RSS actually works, ways people are harnessing those readers...
What can be read on the RSS? If there were a text link in the actually body of the post, would that be seen by RSS readers? Would graphic links work at the end of each chapter? Any ideas?