The first thing you will want to do is to open Outlook 2007 and and make sure you can see the RSS feed Folder in your navigation pane on the left.
The next thing you will want to do is find a RSS Feed you will want to subscribe to, for example you can use the LDS.org and subscribe to one of its feeds, so all you do is click on the link that states, "Subscribe to RSS and Email", this will open a new page.
Then once you have found an RSS feed you want to will want to select and hightlight the address located in the address bar, as you can see in the picture it is what is highlighted in Blue.
Once you have the RSS Copied you will want to open up Outlook 2007 and right click on the RSS Feed, and select the "Add a new RSS Feed..." option.
Once you have selected this option a new window will open and you will paste the RSS feed URL into the empty feild as shown, and hit the "Add" button.
Outlook will pop up a window asking if you really trust this RSS feed, if you Trust the RSS feed, click yes and the RSS fee wil download.
Once the RSS feed has downloaded you will be able to see it in your box and view what it has to offer.