"aggregate" update feed?

Hi everyone,

I’m looking to make an aggregated update feed for the front page of a WordPress site I’m working on. Basically, I want small, single-sentence updates to appear in a list format on the front page for whenever different pages or posts are added to the WordPress, but I also want to incorporate Facebook and Twitter updates in the feed as well. Here is a link to a mock-up of what I’m talking about:

http://imageshack.us/m/651/5939/examplen.jpg

Is this even possible within WordPress? I don’t even know where to start. I know PHP, mySQL, XHTML, etc. extensively, but I don’t know anything about the widget/plug-in framework or anything too advanced about WordPress. Am I looking at a lot of work/time/coding to implement something like this? Is there a plug-in that handles this already?

Thanks for your help!!

(edit: I am willing to forgo the Twitter/Facebook stuff if necessary and just have the individual page updates, if the Twitter/Facebook integration into the feed is impossible)