Formatting RSS content, automatically publish in Wordpress

We have a variety of content providers supplying content for our Web site in RSS format. We need full-text content from RSS feeds automatically formatted and published on our Wordpress site.  We are currenly spending several hours a day formatting posts and we want these posts automatically formatted and published.  We are currently using a self-hosted variation of the RSS scraper from [login to view URL] to retrieve full content from RSS feeds (uses simplepie and readability) and the "Autoblogged" Wordpress plugin to publish these articles on our site.  Currently these item are published as "pending" so extra <div> and <span> tags can be deleted.  We would also like a <!--more--> tag automatically added after the first paragraph of content.  All content is nearly formatted correctly, but not exactly right to allow them to publish automatically.  This job can include tweaking our current software or building something from scratch.  Thanks!