Sun have an RSS Utilities library that was built for creating feeds. However it also includes a useful RSS parser that I am using to do a similar thing.
You can download the library from here (scroll down to the bottom for more information on the parser):
http://java.sun.com/developer/technicalArticles/javaserverpages/rss_utilities/
To check for new items, just get the GUID and compare it with GUIDs for existing items.
// Create an RSS Parser
RssParser parser = RssParserFactory.createDefault();
// Parse the feed
Rss rss = parser.parse( new URL( YOUR_FEED ) );
// Get the channel
Channel channel = rss.getChannel();
// Get the items
Collection<Item> items = channel.getItems();
// Loop for each item
for ( Item item : items )
{
// Get the GUID
Guid guid = item.getGuid();
// Loop for each of the previously seen GUIDs and compare
}