First there was FeedRinse. Some complained that they were stingy on the free feed filters. ZapTXT says true dat and offers the same service for nada. They screen your feeds for certain criteria and zing you an SMS, an e-mail or an IM. Great idea and they have a bookmarklet.
The message here, entrepreneurs, is to build a nice moat around your service before you charge. Make something remarkable that’s difficult to replicate.