The Moth

By now you know that Outlook 12 can be an RSS aggregator. Outlook 2007 has its own RSS engine and does not fully use the Windows RSS Platform. It can share one element of the Windows RSS Platform and that is the Common Feed List. To enable this, go to 'Tools->Options->Other' and click on 'Advanced Options'. On the dialog that comes up, check the checkbox: 'Sync RSS Feeds to the System Feed List' (obvious, right? :-p). For more on outlook and RSS check out the RSS category on Michael Affronti's blog here (I think he owns the feature so you know where feedback on this has to go).

While evaluating whether I want to switch from my current aggregator to the outlook12+IE7 combo, I messed up and ended up with a looong flat list of feeds in Outlook (since outlook doesn't understand folder hierarchy in opml). So I wanted to delete *all* the feeds and while I can do that one by one, there was no mechanism to just get rid of all of them in one go (no folder multiselect).

In case you are wondering, even if you delete the subscriptions from outlook through the 'RSS Feeds' tab on the 'Tools->Account Settings' dialog, all the feed folders you have under the 'RSS Feeds' folder remain (kind of makes sense so you don't lose any cached content). Also note that by default the RSS subscriptions are stored on exchange (which is good because you have access to them from multiple machines through OWA, but also can be bad if your server pst size limit is small).

So anyway, this is unsupported and not recommended and definitely comes with no warranties and everything else in my disclaimer applies. With that out of the way, this is how got rid of all the feeds in one go:
1. Close Outlook 2007 Beta 2
2. Launch Outlook 2003 and connect it to the same exchange server
3. Notice how the RSS Feeds appears as a *regular* folder in Outlook 2003 (it treats it as any other user-created folder)
4. Delete the "RSS Folder" (obviously you can't do that in O12 as it is special, as the icon indicates)

The above worked for me so capturing it here in case it helps anyone but, again, do this at your own risk.