I had tried some time ago to add a mypodcast.com feed to itunes without any luck, Constantly would receive errors about my feed not being valid.
Here is a Feed Validator-
http://www.feedvalidator.org
People can either click on the subscribe with itunes button to add someones podcast to their itunes on the mypodcast page.
The following can also be done-
You can also subscribe to the podcast by doing the following in itunes-
From the Advanced menu, Choose “Subscribe to Podcast...” and enter the podcast feed URL. iTunes will subscribe you to the podcasts and begin downloading immediately.