I think, like wp-rss.php etc. Such file can be added to wpmu features.
I use this without any plugin for the fear that when it is added in the future, there would be a conflict. But if there is a function lik wpmu_get_all_posts in wpmu in the future then this file might be cleaner.
If you don't have yet a sitewide RSS feed then you can use this.
http://hery.blaogy.org/2007/02/23/wpmu-rss-feed/
Any suggestions or corrections are welcome.