OPML

OPML can be used to import a list of feeds into a feed reader.

Getting a list of your friends from LJ as an OPML file
There is an LJ tool to let you:

http://www.livejournal.com/tools/opml.bml?user=USERNAME

If you are logged in, you can go here and automatically be directed to the OPML file for your name:

http://www.livejournal.com/tools/opml.bml

However, there are a few disadvantages to this:


 * The feeds don't have ?auth=digest on the URLs. This means that feed readers supporting it won't be able to get friended posts.
 * Syndicated accounts won't have their original feed URL included. They will have one in the form of http://syndicated.livejournal.com/ACCOUNTNAME/data/rss that will forward to the real feed URL.