We are using this with the delivr.it system and it is working well.
A single line is added to your RSS feed so that subscribers who use Pubsubhubbub (push RSS) can get your post immediately.
I used this for a long time and didn't notice any difference. I would just avoid this. If you can't tell if something helps you, you are probably better off without it.
The plugin appears to be doing what it should be doing, and it's not causing any problems. I wouldn't say I have anything that absolutely *needs* this to be running, but like a good neighbor, it's always there when I need it.
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