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I'm a journalist in the Netherlands and found Toluu while searching for a tool I almost decided to build myself. This tool answers the question: what other bloggers are my bloggers reading. That's very close to what Toluu is doing, but not exactly the same. I'm not interested in the blogs my friends are reading - their taste might be as shallow as mine. But I'd love to know, being a tech-writer, what Jeff Jarvis is reading in his Google Reader, or Nick Carr, Kevin Kelly, et cetera, all the down my opml-file. Their aggregated list of bloggers might feed me with better ideas than my friends, especially when a smart algoritm decides that Kelly is more important than Carr (bases on Google or Technorati ranking).
There's another fundamental reason why I feel this approach might add something to Toluu. Your tool makes no difference between two kinds of rss-feeds, which is a pity. As I said, I'm interested in bloggers, in people and their tastes. To me it seems that reading other kinds of feeds (The Times, Techmeme, etc) is useful and fun, but these feeds are not the personal kind of stuff. And basically that is what I think is changing the net: we will stop reading newspapers, as we stopped buying encyclopedias, and will start reading people (possibly bloggers).