Displaying single feed excerpts

I want to post excepts from selected feed stories to my blog. In other words, when I see a story of interest on my feed, I’d like to post the headline and first few lines and a link to the rest of the story. Now, I’m just copying, pasting and reformatting the story, but I think there must be a more efficient way to do this.

http://mtaylor.al.pcvol.com/

Thanks in advance!
mt