Faves can already slurp in my blog content. There is no technical reason why it shouldn't be able to generate any other type of content. Each feed could be configured to be shared with using the robust Faves permission system.
I'd like to see Faves allow users to point all their feeds at Faves for publication (like at FriendFeed and SocialThing). Faves has a nice commenting system and a group of friends I already like to share with. The layout of eavh Fave could be customized for the major feeds (i.e. Flickr, Blogger, etc.).