I am hoping to work with source feeds that include links within the RSS feeds and am hoping to be able to remove these links using something like php str_replace. Is the feed aggregation plugable and open for a function to be run prior to creating and posting the aggregated content?
I would greatly appreciate you pointing me in the right direction.
Yes, there are a fair number of pluggable filter hooks that you can use to affect the content and the other properties of incoming syndicated posts. Based on your description it sounds like the best bet for what you want to do would be the syndicated_item_content filter, which is documented here: