Exactly! Those are my exact thoughts about pulse!Pulse is a nice idea, but it's strictly for those new to RSS.
RSS junkies often have hundreds of feeds which Pulse can't handle, and the lack of Google sync is a total deal-breaker. There's also an obvious flaw in the whole Pulse philosophy: RSS is about text. It doesn't matter how funky your graphics are, feeds are words.
I fooled around with it for a while. It's not for me. FWIW, I've tried every RSS app out there, and I always come back to Newsrack.