Blogroll/Links Manager – How to create a blogroll template

I am creating a personal blog and would like to have a page that features all my friends’ blogs. But rather than a simple widget that lists a bunch of hyperlinks, I would like the display to be more user-friendly.

I have successfully created a blogroll template and I am querying all my links using the template tag <?php wp_list_bookmarks( $args ); ?>

I am using several arguments as explained on the WordPress support page here: http://codex.wordpress.org/Function_Reference/wp_list_bookmarks

Here’s my code:

<ul class="bookmarklist"><?php wp_list_bookmarks('title_li=&category=53&orderby=id&order=ASC&show_name=1&categorize=0&before=<li class=section-innerfriends>&after=</li>'); ?></ul>

That works fine and well except that I want to include more details on the output page. Currently I am displaying the link name (which is hyperlinked) and the link image (which I simply put in the Image Address under the Advanced settings in the link manager page).

I would also like to include the latest post which is automatically pulled in via the friend’s blog RSS feed. How could I do that?