Over two months ago, Google quietly dropped support for Google Alerts delivery via RSS/feed. It was believed that it was dropped because of the demise of Google Reader and that has not changed.
What has changed is that the RSS/Feed delivery option has returned, as TNW reports.
If you go to Google Alerts and select from the "Deliver to:" section "Feed" you will be given an RSS feed to populate and subscribe to in your new favorite RSS reader.
I am for one excited this feature is back and you should be also, since it helps me report new things to you guys.
Forum discussion at Google+ and Google Web Search Help.
