Friendfeed is a new service which allows you to consolidate all your feeds and have a single datasource to everything you publish on the web. For instance, you can add your Picasa photo stream, your blog stream, Twitter stream etc into a single source and then publish that to your friends.
Pretty much what Yahoo! Pipes does. Only less feature some. But Friendfeed has this ‘social-networking’ angle which I don’t think Yahoo! Pipes has yet.