Anyway, if you have a node whose contents need unescaping a level, here is what you do:
If you want a test page to try it, have a look at the last excerpt on this page on Yukuan's Blogmarks blog, generated by the Blogmarks sync feature (which seems to either escape some entries once too much, or, perhaps more likely, not unescape them once too seldom. (I would venture guessing that this is the effect of not properly taking notice of attributes in the imported dataset stating whether it is quoted or not, but I may be a bit off the mark as I have been reading up on Atom and RSS and lost sense of Blogmarks context somewhere in the middle of it. It's also five AM here; when did that happen?)
When done marvelling at the beauty of this nifty hack, do read the linked article on the Google Reader API; it's good for some interesting future prospects. When will we see a mashup of feeds and translation services, for instance? I find I would want to pick up Yukuan's feed, tell FeedBurner, or better still my feed reader, to translate it to English for me (adding some standard header bringing reader attention to the fact that the poor translation was the result of machine translation, rather than insanity on part of the author) and otherwise show it as any other posts in my reading list.
I tried in vain to get Google Language Tools to translate Atom and RSS feeds alike; it only seems to chew
text/htmlat present. I suppose we will see good things happen on this front too, eventually.