Including other RSS Feeds as Posts (not sidebar)?

I’ve searched all over, but I’m having trouble finding a plugin or similar hack to include selected outside RSS blog feeds as posts, potentially as drafts to be approved. I’ve seen a number of plugins to pull headlines and such into the sidebar, but that’s not what I need. I have seen a few sites that seem to be able to pull outside feeds in as posts on their own blog, while integrating them with their own original posts (Obviously without having to manually cut and paste.)

Can anyone point me in the right direction or help me out?