Can anyone tell me about any drawbacks related to SEO that an RSS Feed may pose. Specifically, RSSEqualizer.com.

RSS is great for SEO in my opinion. Just make sure you are creating normal non framed pages to take full advantage of the feeds in your web site. I use a similar system from SuperFeedSystem.com combined with Server Side Includes in my pages to create seamless web pages and realy do find it very useful. Javascript also works very well but for some reason I like SSI.