Maybe. Don't think any of this existed when I need it...
1. The code is tiny with 90% of it dealing with RSS parsing and filtering. Using RX.NET wouldn't really simplify anything.
2. I wanted a library that I can integrate into my apps and run locally to avoid throttling, robots.txt and other BS Yahoo Pipes was suffering from.
I am also not a huge fan of RX... to put it mildly