I found this website interesting. It is a group of digital independent news reading tools.
I found the site through their "Kindle It" tool, which takes a source webpage and turns it into a Kindle-ready document. It works wonderfully. Kindle It works with other formats too.
The other tools:
"Explore Independent Media" - Takes in keywords about current events and outputs alternative sources of information about it
"PDF Newspaper" - Takes in a blog or website and turns it or alternative sources into a PDF formatted page for easy printing. Another format shift tool.
"Full Page RSS" - Takes a blog or website and creates an RSS feed that will take the full text from articles.
"Term Extraction" - Scans text and finds the relevant terms.
The tools are all free software and work in most of the browsers I tried. Some of them are finishing up and have local binaries to run on your own hardware.
Mildly related, a tool for Kindles: Delivereads. A man named Dave Pell finds things he likes on the internet and sends them to your Kindle weekly as a single file. The first issue was of a fairly high quality - check out his sample stories.
I want to see simple tools like this for e-readers more often.