I've been thinking along the same ideas...
See the attached tar ball... Its basically the BBC rss feed parsed and then downloading the low-bandwdith version of each page. I'll play with more later, but this is my proof-of-concept, daily paper version...
Oh, if you haven't paid your BBC license fee, please don't download this. And if the supplied html bricks your Illiad, then please contact Irex, and not me...!
http://208.254.38.124/pub/bbc_news.tar.gz