As mentioned in few places including Sam Ruby, Miscoranda and Cafe con Leche. There is a draft version of RSS 1.1 available on a creative commons licence. The official specification is a bugfix rather than a real change. My own feelings are the same as Elliotte except of course the very end…
As if RSS 0.9, 0.91, 0.92, 1.0, and 2.0 weren't enough to deal with, now there's RSS 1.1. I think the authors are missing the forest for the trees here. While there are some small improvements in RSS 1.1 relative to RSS 1.0 (which is a completely different beast than RSS 0.9x and RSS 2.0), they are simply not outweighed by the cost of expanding market confusion and incompatibility. Oh well, maybe if we're lucky, this will be the straw that breaks the camel's back, and convinces the world to just move forwad to ATOM leaving RSS in the dustbin of history where it belongs.
Oh thers already a RSS Feed validator and RSS 1.0 to 1.1 converter.