Photo feeds, as of the written-in-12-hours v1.0, automatically creates RSS feeds for the photos of you and your friends. You can subscribe to these feeds using anything that supports RSS photos. Your news reader, your favorite photo screen saver, windows vista sidebar, google sidebar, digital photo frames, etc, etc.
In the near future I hope to make this more compelling with new features including adding deeper integration into your Facebook profile and publishing to the Facebook news feed. In addition, I'll be integrating the three photo products (Friend Photosaver, Photozap, and Photo Feeds) to provide a rich add-on suite to Facebook Photos aimed at getting your photos to your desktop outside of Facebook.
Of course, this latest application was written using .NET Framework 3.5, Visual Studio 2008, and my top secret (though soon open source) asynchronous Facebook library. If you're a .NET developer interested in writing Facebook apps let me know and I'll be sure to blog about the technical details in the future. There doesn't seem to be many of us in the Facebook world.