Well, for whatever reason I can't post a comment in response to this post.
The further you get into the comments, the clearer it becomes that, despite the inclusion of a mention of taking the process to the IETF, there's a fair bit of waffling on committing to what that process would truly entail: entrusting the process to an independent body and relinquishing "veto power."
I agree with Ross Rader's take: "Blogging needs real standards if it is going to survive. Merging the ATOM feed spec into the RSS feed spec using an informal methodology won't give us what we need and will only serve to create a third variation that we can use to confuse users with."
I'd like to see some user-focused compromise, but the ground rules can't all be set by one party. I'll be interested in seeing some iteration of this proposal that starts with a little less ground defensively staked off.
No one can put you down without your full cooperation.