A common question is “Can I remove the RSS folder in Outlook 2007?”
 
Yes, you can use a group policy to remove RSS capability from Outlook. If you disable RSS before you create your profile, you’ll need to make a new PST to get rid of the folder. While group policy is considered by many to be a ‘corporate’ feature, anyone can change their local group policy.
 
You’ll need to add this key to the registry – create the keys if they do not exist. 
 
HKEY_CURRENT_USER\Software\Policies\Microsoft\Office\12.0\Outlook\Options\RSS
DWORD: Disable
Value: 1
 
If you don’t want to edit the registry yourself or want to see what else you can turn off, download the policy templates from:
http://www.microsoft.com/downloads/details.aspx?FamilyID=92d8519a-e143-4aee-8f7a-e4bbaeba13e7&displaylang=en
 
To use:
1.     After extracting the files, go to Start menu, Run and type MMC
2.     Choose File, Add/Remove Snap-in
3.     Click Add
4.     Select Group Policy and press Add
5.     Press Finish, Close and then OK to return to the MMC
6.     In the left column of the MMC expand Local Computer Policy then right click Administrative Templates in User Configuration and choose Add/Remove Templates
7.     Browse to the location where you extracted the templates to and select OUTLK12.ADM
 
There are templates for each version of Outlook (and Office) available.  Links to all versions of the Office Resource Kits are at http://office.microsoft.com/en-us/ork2003/default.aspx - the policy templates are found in the Toolbox.