In his words:
There’s plenty of information about Drupal modules that make RSS, but it’s hard to find something about getting the module list in RSS. I’m sure the capitalized Semantic Web will make that easy, but until that happens I guess I’ll just have to roll my own.
So I set up an RSS feed at http://feeds.feedburner.com/drupalmodules. I scrape the page once a day (technically once a night in EDT, once an early morning in UTC, once a…) and make a fresh new RSS feed. If you know of any Drupal users/developers, you might want to let them know.
The post is pretty old, and there’s a comment from a Drupal developer saying that RSS feeds of new modules will be around in Drupal 4.7 (current version is 5.1) so this may be a mute issue right now. However, the Drupal.org site is down right now, and the RSS feed seems to still be current, so I don’t see any issue in using it.